InfoQuest news agency (29 March 2023)
The price of gold futures continued to rise. It recently rose nearly $20, breaking the $1,970 level today. driven by the depreciation of the dollar which will increase the attractiveness of gold By making gold contracts cheaper for holders of other currencies.
At 00:36 Thai time, the COMEX (Commodity Exchange) gold contract was executed in April. plus $19.50 or 1.0% to $1,973.30/oz
At the same time, gold prices were boosted by the US Federal Reserve (Fed) marking the end of the cycle of raising interest rates.
Investors will be keeping an eye on Friday’s Personal Consumption Expenditure (PCE) Price Index, which will indicate the direction of Fed interest rates.
The PCE index is a measure of inflation that the Fed is concerned about. It can detect changes in user behaviour. and covers a wider range of prices for goods and services than Consumer Price Index (CPI) data.
By Kongkiat Korwirakiti