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Gold prices stabilized today, Tuesday, as investors evaluated US President Donald Trump’s announcement of a ceasefire in Lebanon and awaited more details about the negotiations between the United States and Iran, amid growing concerns about inflation and raising interest rates.
What was the price of an ounce today?
The price of gold in spot transactions settled at $4,484.49 per ounce at 00:48 GMT. As for US gold futures, they rose 0.2% to $4,514.30.
Investors are now awaiting US non-farm payrolls data and the employment report, both scheduled for release later this week, to assess the strength of the labor market amid growing inflation concerns.
Attention is also focused on statements by Federal Reserve officials (the US central bank) to assess the course of monetary policy in the future.
Meanwhile, SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings of the precious metal fell 0.3% to 938.03 tons on Friday.
