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Gold jumps after US inflation data and exceeds $2,400 per ounce
Gold prices jumped more than 1%, Thursday, to exceed $2,400 per ounce after data showed that consumer prices in the United States unexpectedly fell last month, which reinforced bets on a US interest rate cut.
By 12:56 GMT, gold in instant transactions rose 1.5% to $2,406.99 per ounce, its highest level since May 22.
US gold futures also rose 1.4% to $2,412.60.
Consumer prices in the United States fell unexpectedly, and the rise on an annual basis was the lowest in a year, which suggests the return of the slowdown in prices and brings the US Federal Reserve one step closer to the decision to reduce interest rates.
As for other precious metals, silver rose in spot transactions 2.7% to $31.63 per ounce, which is its highest level since May 31. Platinum also rose 1.9% to $1,008.35, and palladium increased 1.6% to $1,002.54.
