Gold rises on technical buying

By Xu JingUnreguser
  • World
  • Tuesday, 05 Mar 2024

CHICAGO, March 4 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday on technical buying.

The most active gold contract for April delivery rose 30.60 U.S. dollars, or 1.46 percent, to close at 2,126.30 dollars per ounce.

Gold hit a three-month high. There are also growing notions the Federal Reserve may begin to lower U.S. interest rates in June.

Federal Reserve Chair Jerome Powell is scheduled to address the Congress on Wednesday and Thursday.

U.S. monthly employment report will be released on Friday.

Silver for May delivery rose 62.70 cents, or 2.68 percent, to close at 23.991 dollars per ounce. Platinum for April delivery rose 16.30 dollars, or 1.84 percent, to close at 904.30 dollars per ounce.

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