Gold prices exceed USD 1,900 per ounce

Gold price in Kuwait has exceeded the 1,900 barrier for the first time in 10 months, coinciding with US data that indicates a decline in inflation rates.

A report issued on Sunday by Dar Al-Sabaek Company pointed out that gold hovered to USD 1,920 per ounce on Friday, meanwhile the US consumer prices grew 6.5 percent in line with the expectations of inflation rates decline.

The report showed two more reasons for gold prices incline, firstly, the US monetary policy that helped in this increase, and secondly is the rise in the Michigan index that measures US consumer rates with benefitting from investors’ expectations towards the Federal Reserve System and continuation of slow inflation.

Source: Kuwait News Agency