Gold Rises $8.8 Supported by Rising Inflation Figures

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Gold futures rose Wednesday (Jan. 12) on a weaker dollar and lower U.S. Treasury yields. Inflation figures released by the U.S. yesterday showed a rise last seen 4 decades ago.

  • The gold futures were up $8.8, or 0.5%, at $1,827.30 per ounce.
  • Silver futures were up 39.5 cents, or 1.73%, at $23.207 an ounce.
  • The platinum contract was up $6.9, or 0.71%, at $980.1 per ounce.
  • Palladium was down $6.30, or 0.3%, at $1,915.80 an ounce.

Gold contracts gain support after the dollar index weakened against the six major currencies in the basket of currencies. It fell 0.74% to 94.9201 and the 10-year U.S. Treasury bond yield fell to 1.718%.

U.S. CPI figures for December showed a further increase in inflation. On an annual basis, inflation increased by 7% and MoM by 0.5%. Core CPI, excluding food and energy, rose 5.5% YoY and 0.6% MoM. Thus, inflation figures showed an increase last seen 38 years ago.

Analysts said the December consumer price index in the U.S. was in line with this expectation. The U.S. Federal Reserve (Fed) will not be pressured to raise interest rates faster than previously signaled.

The Spot Market is Open

Thursday, January 13, 2022

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
09.10
1,825.00
1,826.00
-0.50
-0.03
1,823.90
1,827.60
Silver
09.10
23.16
23.25
+0.04
0.15%
23.09
23.30
Platinum
09.10
975.00
985.00
-3.00
-0.31%
974.00
989.00
Palladium
09.10
1,848.00
1,998.00
-6.00
-0.32%
1,845.00
2,002.00
Rhodium
06.00
15,100.00
17,100.00
0.00
0.00%
15,100.00
17,100.00

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