Gold prices stabilized near the lowest level in two months on Thursday, as traders evaluated the mixed statements of Federal Reserve officials regarding January inflation data, which frustrated some hopes for an imminent and significant cut in interest rates.
Gold prices in spot transactions reached $1,992.77 per ounce, after recording its lowest levels since December 13, yesterday, Wednesday. While US gold futures recorded $2,004.60 per ounce.
Gold fell about 1.4 percent after the consumer price index data, its largest daily decline since December 4.
Source (CNBC Arabia Website, Edited)
