Gold prices steady as lower yields counter stronger dollar

Spot platinum fell 0.3% to $885.60 per ounce, palladium dropped nearly 1% to $927.04, and silver fell 0.1% to $22.40

Staff Writer, WAM (Emirates News Agency)

February 28, 2024

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WORLD CAPITALS - Gold prices steadied on Wednesday, as lower US Treasury yields partially offset a firmer dollar, while traders awaited key inflation data and remarks from Federal Reserve officials this week to gauge when the central bank is likely to cut rates.

According to Reuters, spot gold held its ground at $2,030.12 per ounce as of 0643 GMT. US gold futures fell 0.2% to $2,039.40 per ounce.

Spot platinum fell 0.3% to $885.60 per ounce, palladium dropped nearly 1% to $927.04, and silver fell 0.1% to $22.40.

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