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Commodity: gold prices down slightly

10/02/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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Ce vendredi, le prix de l' or a légèrement baissé et se dirigeait vers a second consecutive weekly decrease. As for the impending interest rate hikes by the U.S. Federal Reserve, investors remain wary of keeping high inflation under control.

Gold is considered to be a hedge against inflation. Despite this, higher rates tend to tarnish the appeal of bullion, which pays no interest. All week, the metal was down 0.3%. Spot gold was down 0.1% to $1,859.70 per ounce. U.S. gold futures fell 0.4% to $1,871.10. A stronger greenback makes gold valued in dollars more expensive for buyers holding other currencies.

Platinum lost 0.5% to $949.32 and was on track for a fifth consecutive weekly decline. Cash fell 0.3% to $21.92 per ounce, and palladium was little changed at $1,629.33.

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