For the first time in eight months, the price of gold exceeded $ 1,900 per ounce

Against the backdrop of inflation data in the US, the price of gold exceeded $1,900 per ounce.

It is reported by Reuters.

The cost of gold during trading on the New York Mercantile Exchange Comex on Thursday rose above 1.9 thousand dollars per troy ounce, follows from the data of the trading platform.

This is the first time this milestone has been reached in eight months, since May 2022. Prior to this, the precious metal has not traded above $ 1,900 per ounce.

Gold prices peaked as the dollar weakened ahead of the release of US inflation data for December. The weakening of the US currency makes gold more attractive to holders of other currencies.

“Declining real yields and a weaker dollar supported gold,” said Sookie Cooper, an analyst at Standard Chartered.