Gold Regains Footing as Inflation Worries Ease
Earlier this week, the price of gold rose slightly as a weaker dollar and declining oil prices helped ease inflation worries amid signs that the Middle East conflict might end in the near future. Spot gold rallied by nearly 2% to reach $5,231.8 an ounce, while United States gold futures for delivery next month hit $5,242.10. Gold wasn’t the only metal to record an increase in its price either. Platinum saw its price rise to $2,229, representing an increase of more than 2%. Spot silver also rose to $89.39, a 2.7% surge. Palladium didn’t perform as well, though, with the metal’s price declining to $1,675.50. This is equal to a 0.9% decline. The dollar index also declined, which helped bolster the precious metal’s price. Normally, a drop in the value of the…