The yellow metal is trading at the stability of the middle of the trading session today, Tuesday, February 8th, after gains of about 0.8%, recorded by gold when it closed the trading session yesterday, Monday, the opening session of the week at levels of $ 1819 an ounce, and it is now trading close to the closing levels on stability before the opening of the American markets, where crude benefits from The rise in geopolitical tensions in the West between Russia and Ukraine, in addition to benefiting in a large part from the expectations of high inflation in the United States of America, which will be announced Thursday.

With the markets awaiting inflation data at the end of this week, amid expectations that the consumer price index will rise in the annual reading to 7.2 – 7.3%, the highest reading of the index since 1982, the yellow metal is benefiting as the most important tool for hedge against inflation, but it is also affected, given that high inflation will force the US Federal Reserve to accelerate the pace of tightening.

Raising interest rates and thus raising the opportunity cost of holding bullion that does not carry returns. On the other hand, the COT report issued by the Commodity and Futures Trading Commission (CFTC) showed a decline in buying positions on the yellow metal for major investors and hedge funds last week, reaching 172,142 thousand contracts, compared to 220,151 in the previous week.

Silver, in turn, is declining by about 0.62%, trading at levels of $22.85 per ounce, after gains of more than 3% recorded by silver in the opening session of the week.

Platinum is declining by about 1.26%, trading at levels of $ 1007, while palladium is losing about 1.42% and trading at levels of $2,230 thousand.