Media ININ Economy We Trust
07-01-2019 MEDIA IN AGENCIES
Gold prices rose, supported by the dollar’s fall on expectations that the Federal Reserve may slow monetary policy tightening in 2019, but improved investor appetite for risk has curbed yellow gains from a safe haven.
The price of palladium in spot transactions is still slightly higher than the price of gold. Palladium exceeded $ 1,300 an ounce on Friday, reaching an all-time high of $ 1,310.
The spot price of gold was up about 0.4 percent to $ 1290.42 an ounce.
Gold futures in US futures rose 0.5 percent to $ 1291.90 an ounce.
On Friday, Federal Reserve Chairman Jerome Bowel said he was aware of the risks associated with the economic slowdown and would be patient and flexible in monetary policy decisions this year.
Investors had expected the Fed to keep tightening monetary policy after raising interest rates three times last year, but the current trade row and recent disappointing corporate profits have dented expectations.
The dollar index, which tracks the performance of the greenback, slipped a gain of six major currencies by 0.2 percent.
A rally in Asian stocks prompted the US central bank’s more hawkish stance and strong US jobs data to curb the momentum of the yellow metal rally.
The jobs report in the US non-farm payrolls showed Friday that net new jobs stood at 312,000 jobs in December, signaling a continued economic strength that could ease fears of a sharp slowdown in growth.
Among other precious metals, palladium in spot transactions rose 0.2 percent to $ 1302.80 an ounce.
