World gold price today 23 October 1405; Gold rose

The global price of gold increased by more than 1 percent in trading on Thursday, October 23, 1405, under the influence of the decline in the value of the US dollar, and moved away from its lowest level in a week.

Sefir Arjan-Economic Group: The price of gold per ounce for immediate delivery increased by one percent to $4,146 74 cents. The precious metal retreated to its lowest level since October 7 in Wednesday's trading.

The price of gold per ounce in the American futures market for delivery in December also increased by 1.5% to $4,167 and 30 cents.

The US dollar fell after hitting an 18-month high in overnight trade. A weakening dollar makes gold priced in US currency cheaper for holders of other currencies.

Kyle Ruda, senior financial market analyst at Capital.com, said: What we are seeing now are signs of market uncertainty regarding interest rate policy in the United States, which has led to a slight volatility.

He added: Gold is approaching a very important level, which is slightly below the $4,000 mark. If very strong economic data is released again and the view is formed that the Federal Reserve should raise interest rates relatively immediately, this level will become the focus of the market.

US consumer prices accelerated in September as gasoline prices rose sharply.

After the data was released, CME's Fed Watch tool showed traders now expect a 29 percent chance of a U.S. interest rate hike this month, up from 22 percent before the data was released.

Mary Daly, president of the Federal Reserve Bank of San Francisco, said that the US central bank will probably have to raise short-term interest rates again. However, he pointed out that there is no need to increase the interest rate in the meeting on October 27 and 28.

Michelle Bowman, one of the Federal Reserve officials, also said: the central bank has time to review the situation and wait before taking any further action.

Gold has traditionally been seen as a hedge against inflation, but higher interest rates have reduced the appeal of this interest-free asset.

According to a Reuters report, the market's attention is now focused on the producer price index (PPI) data and retail sales statistics, which are due to be released later today.

In the market of other precious metals, the price of silver per ounce for immediate delivery increased by 0.7% to 56 dollars and 1 cent. The price of one ounce of platinum increased by 1% to $1,608 and 20 cents, and each ounce of palladium increased by 1.3% to $1,108 and 14 cents.

Today, Tuesday, September 31, 1405, after the initial growth, the global gold price fluctuated again and reached the range of $4340. The drop of more than 9% in the price of oil in four trading sessions has reduced inflationary concerns and the possibility of an increase in the US interest rate and has supported gold; However, the Federal Reserve's monetary policy remains an important factor in market volatility.

Global gold prices rose on the last trading day of the week, offsetting some of the pressure from the Federal Reserve's first interest rate hike in more than three years. Lower oil prices and weaker dollar supported the yellow metal, although inflationary concerns and the possibility of continued US contractionary policy continued to overshadow the market.

Today, Monday, September 23, 1405, the world gold price fluctuates in the range of 4 thousand 330 dollars; But the market is on the threshold of the important decision of the Federal Reserve. The increase in producer inflation and the growth of US bond yields have increased the pressure on gold, and traders are now looking at the Wednesday meeting.