Not satisfied with the rise, the price of gold breaks through a new height again!

thecekodok

 Gold prices remained firmer on Wednesday amid continued weakness in the US dollar trading after US economic data was published.


The Asian session saw the yellow metal trade higher at $1,938 an ounce, not far from the 9-month high it hit on Tuesday of $1,942 an ounce.


The US dollar continued to weaken as S&P Global survey data showed services and manufacturing activity remained below contraction in January.


However, the decline recorded began to moderate for the first time since September with a better-than-expected reading.



The weakness helped the gold precious metal to strengthen, while also being supported by expectations that the Federal Reserve (Fed) will slow its interest rate hike at its February policy meeting.


Even so, investors will focus first on Thursday's release of preliminary estimates of US gross domestic product (GDP) for the fourth quarter.


Meanwhile, inflationary pressures remain high in several major economies, with new data published showing Australian consumer prices posted their highest jump since 1990 in the fourth quarter.


In addition, Japan also saw its inflation rise to a 30-year high in December.

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