Wednesday 13/Aug/2025 – 10:39 AM
Gold prices increased with the support of the decline in the US dollar exchange rate on Wednesday, after announcing the US inflation data, which was weaker than expected, which increased the possibility of reducing interest by the US Central Bank in September.
The instant gold price increased by 0.2% to 3351.46 dollars an ounce, while US futures settled at $ 3399.60.
Reasons for height of gold
The moderate US inflation data has decreased the value of the dollar, making gold cheaper for other currencies, and the markets expect by 90% that the Federal Reserve will reduce interest rates in September, and this enhances the attractiveness of gold that does not generate return.
Investors are awaiting the results of the upcoming talks between US President Donald Trump and his Russian counterpart, Vladimir Putin, on Friday. Analysts believe that the continuation of the conflict in Ukraine may push gold prices towards the level of $ 3400.
The White House reduced the ceiling of expectations from this summit, describing it as a “listening exercise” for the American president.
Other precious metals
Other minerals witnessed different movements, as the silver increased by 0.8% to $ 38.17 an ounce, and platinum declined by 0.1% to $ 1335.82 an ounce, and the price of palladium stabilized at 1129.37 dollars per ounce.
Next economic data
Investors are awaiting a set of American economic data this week, which may affect the decisions of the US Central Bank, including the product price index, weekly unemployment benefits and retail sales.
