Gold futures rise $1.4 on rising inflation

Gold rose 0.1%, or $1.4, to close at $1,758.4 per ounce.

Silver futures rose 2.22%, or 48.9 cents, to $22.536 an ounce.

The platinum price gained 1.16% or $11.2 to close at $973.6 per ounce.

The palladium price rose 0.2% or $3.90 to close at $1,903.70 per ounce.

Commodities rise after economic data point to inflation. The basic personal consumption expenditures (PCE) index, which excludes food and energy, reached a record 3.6% year-on-year in August. This is the highest increase since May 1991.

In addition, the U.S. dollar weakened. This makes gold cheap and attractive to investors who hold other major currencies. Gold is also a safe haven for investors amid rising inflation fears.

The Spot Market is Closed

Saturday, October 2, 2021

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
04.00
1,760.80
1,762.00
+3.60
0.20%
1,749.70
1,765.80
Silver
04.00
22.52
22.65
+0.36
1.62%
21.98
22.68
Platinum
04.00
971.00
981.00
+9.00
0.94%
954.00
987.00
Palladium
04.00
1,850.00
2,000.00
+14.00
0.76%
1,790.00
2,016.00
Rhodium
04.00
12,050.00
14,050.00
0.00
0.00%
12,050.00
14,050.00

Leave a Reply

Change Language
%d bloggers like this: