Gold continues to rise with the start of today’s session, Monday, May 24, the opening session of the week, rising for the seventh session in a row, as the yellow metal trades at levels of 1882 dollars per ounce, the highest level for the metal since mid-January of this year, at an increase of about 0.10 per cent after gains exceeded The 2 percent recorded by the metal last week, benefiting from the decline of the US dollar.

The US inflation data, which was announced last week, which showed inflation increased at a better rate than expectations by 0.9 percent in April, raised market expectations that the US Federal Reserve may resort to changing its monetary policy and raising interest rates before 2023, which formed support for the prices of the yellow metal.

On the other hand, the yellow metal is receiving support from the declines in the cryptocurrency markets in recent days, as gold began to benefit from being one of the most important safe havens in the markets in cases of uncertainty after the cryptocurrencies, on top of which, Bitcoin had withdrawn part of this liquidity for the purpose of hedging and with losses Bitcoin, which exceeded the 20 percent in the last seven days, has returned some of its liquidity to gold.

Silver is trading at levels of $ 27.72 an ounce, with an increase of about 0.73 per cent, after testing levels of $ 28.70 last week.

Platinum is trading slightly lower, with the European markets opening for the session today, Monday, at levels of 1.164 dollars, down by 0.14 percent, while palladium is trading at 2.780 dollars, down by 0.08 percent.
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