In Asian trade on Thursday, gold prices rose. Because investors expect the yellow metal to continue to profit from the low interest rate environment. However, interest rates were cut somewhat lower than expected due to the core consumer price inflation figures for August. Traders saw a 25 basis point drop in late September; This idea supported the dollar and limited the rise in gold.
Gold futures for December were up 0.1% at $2,544.55 an ounce, while spot gold was up 0.2% at $2,516.88. Gold is at an all-time low as the Fed and PPI inflation are expected. After hovering dangerously close to a record high of $2,532.05 an ounce earlier this week, spot gold traded below that level again.
London Metal Exchange one-month copper futures rose 0.3% to $4.180 a pound, while benchmark copper futures rose 0.4% to $9,180.0 a tonne. Copper prices have been hit by a series of poor economic data releases from China over the past week. However, it raised confidence in other stimulus programs across the country. In a recent report, analysts predicted the government would implement additional mortgage refinancing programs and interest rate cuts to support local demand and the economy.
