World gold prices are on a recovery track in the trading session on September 10, supported by the weakening USD. The market is waiting for US economic data that may affect the diễn biến of precious metal prices.
As of 2:30 PM on September 10th Vietnam time, spot gold prices increased by 0.16%, to 4,409.05 USD/ounce. Meanwhile, December gold futures fell 0.20%, to 4,452 USD/ounce.
Gold prices were supported as the USD weakened, making the precious metal valued in greenbacks more attractive to buyers holding other currencies.
The market is currently focusing its attention on US economic data released this week. The producer price index (PPI) is expected to be released on September 10, while the consumer price index (CPI) data will be released on September 11.
These figures may affect market expectations about US monetary policy, thereby affecting the diễn biến of the USD and gold prices.
In today's trading session, gold prices still maintained above the 4,400 USD/ounce mark after recovering from the lower price range in previous sessions. This development shows that buying power is still present, although the market is cautious in the face of new economic data.
On the precious metals market, spot silver price is currently at 67.26 USD/ounce, down 0.03%. Platinum prices decreased 1.43%, to 1,873.04 USD/ounce. Palladium price decreased 0.20%, to 1,363.25 USD/ounce.
