Business News Asia
Gold closes with a minus of $2.3 – Another high U.S. CPI figures expected
Gold futures closed lower on Wednesday (Nov. 9) as dollar strength pressured the market while investors await the release of the U.S. Consumer Price Index (CPI) today.
- The gold contract was down $2.3, or 0.13%, at $1,713.7 an ounce.
- Silver was down 17.5 cents, or 0.81%, at $21.327 an ounce.
- The platinum contract was down $17.2, or 1.7%, at $997.3 an ounce.
- Palladium fell $73.40, or 3.8%, at $1,859.20 an ounce.
The dollar index rose 0.83% against the six major currencies in a basket of currencies to 110.5490. The appreciation of the dollar made dollar-denominated gold contracts more expensive for investors holding other currencies.
Investors are awaiting the release of the U.S. Consumer Price Index (CPI) today. Meanwhile, analysts forecast that the overall consumer price index rose 7.9% in October from a year earlier. The core CPI (excluding food and energy prices) is expected to rise 6.5% year-over-year in October, down from 6.6% in September.
The Spot Market is Open
Thursday, November 10, 2022
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 11.30 | 1,709.70 1,710.70 | +3.00 +0.18% | 1,704.00 1,711.20 |
| Silver 11.30 | 21.10 21.20 | +0.07 +0.33% | 20.95 21.26 |
| Platinum 11.30 | 988.00 998.00 | +6.00 +0.61% | 979.00 1,000.00 |
| Palladium 11.20 | 1,802.00 1,952.00 | +6.00 +0.33% | 1,789.00 1,960.00 |
| Rhodium 06.00 | 12,150.00 14,150.00 | 0.00 0.00% | 12,150.00 14,150.00 |
