The yellow metal maintains the levels of $1900 an ounce in the middle of the European trading session of today, Thursday, January 19th, to trade at levels of $1912 an ounce, recording gains of about 0.46%, benefiting from the decline of the US dollar by about 0.20%, in addition to the decline in US Treasury bond yields.

The yield on US Treasury bonds for 10 years is declining to its lowest level since September of last year, as it traded at 3.364, with a loss of about 0.43% today, Thursday, after losing more than 5% yesterday, Wednesday.

Despite the divergent statements of the US Federal Reserve members regarding interest rates, the yellow metal benefits from the statements of the US Federal Reserve President in Philadelphia, Harker, and the statements of the President of the Bank in Dallas, Logan, who supported slowing the pace of interest rates from the US Federal Reserve.

On the other hand, statements by Cleveland Federal Reserve Chair Loretta Mester and St. Louis Fed President James Bullard showed that the Fed should not delay raising interest rates until they reach the bank’s target of 5%, while monitoring indicators of slowing inflation.

In a related development, the China Gold Association reported this morning that China’s gold production (the largest consumer of the yellow metal in the world) increased by 13.9% on an annual basis, to 372,048 tons in the past year 2022.

During today’s American session, the markets are looking forward to the weekly unemployment claims index, in addition to the Philadelphia Manufacturing Index.

Silver, in turn, is trading at $23.51 an ounce, up by 0.37%, after losing more than 2% yesterday, Wednesday.

Platinum is trading at an increase of about 0.31%, when it is trading at $1,041, while palladium is down by about 0.20%, when it is trading at $1,715.