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Gold Up on Inflation Concern

Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday on inflation concern.

The most active gold contract for February delivery rose 10.7 U.S. dollars, or 0.58 percent, to close at 1,854.9 dollars per ounce.

Federal Reserve Governor Lael Brainard said on Wednesday that the Fed's current pace of bond purchases would continue for quite a while, a signal that the Fed is willing to let inflation increase.

Investors are also monitoring the U.S. House vote on second impeachment of U.S. President Donald Trump.

U.S. Labor Department reported on Wednesday that U.S. consumer price index increased 0.4 percent in December after rising 0.2 percent in November, basically in line with market expectations.

Silver for March delivery rose 13.7 cents, or 0.54 percent, to close at 25.572 dollars per ounce. Platinum for April delivery rose 42.9 dollars, or 4.02 percent, to close at 1,110.7 dollars per ounce.

(www.chinaview.cn 2021-01-14)