Gold records monthly gains … and preparing for American inflation data

Gold prices are turning to monthly gains, despite a slight decline in Friday trading, pending the issuance of American inflation data, which is expected to determine the course of reducing interest rates by the Federal Reserve.

Gold in instant transactions decreased by 0.1% to $ 3414.07 an ounce by 08:18 GMT, after he recorded the highest level since July 23 at 3423.16 dollars. However, the precious metal recorded a monthly increase of 3.6% since the beginning of August, according to Reuters data. The American gold futures contracts decreased by December by 0.1% to 3471.70 dollars. Han Tan, the chief market analyst at Nemo.mony, said: “Besides the slight climbing of the dollar, gold also feels the strength of gravity that is usually around the large psychological levels, especially the level of 3400 dollars per ounce. The markets are reluctant to allow gold to stay away from this level before the issuance of expenses. Personal consumption. If the reading comes in support of the interest reduction expectations, it is expected that gold will maintain its level above 3400 dollars, while it may decrease if the results are disappointed by the market expectations. Other precious minerals recorded a slight decline, as the silver decreased by 0.4% to 38.91 dollars per ounce, and platinum by 1.1% to 1343.98 dollars, while palladium fell by 0.3% to 1099 dollars per ounce.