#GoldOnTheRise
The spot price of gold fell 0.5% to $5,055.24 per ounce at 06:42 GMT. Previously, metal increased in price by 1% more. Gold futures in the US fell in price by 0.4% to $5,077.30 per ounce.
According to OCBC strategist Christopher Wong, a strong voice from the US market is calling for a quick easing of the Fed's monetary policy, which curbed the rise in gold prices.
The US dollar index followed unsatisfactory positive employment data, which indicated the resilience of the American economy. A valuable dollar to buy gold, denominated in American currency, is valuable for investors from other countries, which are now increasingly popular.
Analysts also have a lot of respect for fiscal risks: according to the forecast of the US Congressional Budget Office, the regional budget deficit in 2026 will grow to 1.853 trillion dollars, which will contribute to the illegal economical picture.
According to Reuters, the Federal Reserve System is confident that rates will remain unchanged until the end of the term of Fed Chairman Jerome Powell, and then lower rates are possible in the red.
In the meantime, investors will be aware of the recent increase in unemployment support for the fourth quarter of inflation statistics on Friday, which may provide new signals for the Fed's upcoming actions.
Among other high-value metals, silver fell in price by 0.6% to $83.49 per ounce, after cutting by 4% earlier. Platinum lost 1.1%, falling to $2,109.45, while palladium rose in price by 0.3%, to $1,705.25 per ounce.
Apparently, recently the price of gold again exceeded the mark of 5,000 dollars per ounce, with a number of investors turning to the market after sharp volatility and a significant drop near the end of today.
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