The yellow metal regained the levels of 1800 dollars per ounce with the beginning of the American session yesterday, Tuesday, to settle there and close the American session, taking advantage of the sharp declines in the US dollar index at the same time, to test the levels of 1807 dollars per ounce before reducing its gains and is now trading with the beginning of the European session of today’s session on Wednesday The 15th of September (September) at the levels of 1802 dollars per ounce, down slightly by about 0.09%, while silver is trading at the levels of 23.70 dollars per ounce, down by 0.56%.
The yellow metal has benefited since the beginning of the American session yesterday, Tuesday, until the moment from the declines in the general index of the US dollar, after the decline in the CPI consumer price index, which measures urban inflation in the United States of America, by 0.3.% in August, after a rise of about 0.5% in July, to come below expectations. Which indicated a decline to 0.4%, on the other hand, the annual index rose by 5.3%, as expected, compared to 5.4% in the July reading.
The slowdown in inflation is less than expectations and the labor market data that was announced in early September raised the uncertainty in the markets about the Federal Reserve’s schedule to reduce the asset purchases program until next November, while expectations were before the inflation statement at the September meeting next week, and thus formed Pressure on the US dollar and US bond yields against increases in the yellow metal.
The general index of the US dollar is trading at 92.43 levels in the middle of today’s session, down by more than 0.15%.
Platinum is trading at $927, down by about 1.26%, while palladium is down by about 0.98% and trading at $1.959 thousand.
06/11/2024
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