The price of spot gold rose on Friday to its highest level since the beginning of May after United States Federal Reserve Jerome Powell reiterated the central bank will hike interest rates more if necessary, indicating the institution is not yet done with its monetary policy tightening and pushing investors toward this safe-haven commodity.
Gold grew by 1.01% at 11:18 am ET to sell for $2,056.709 per ounce. Silver increased by 0.22% to go for $25.32 per ounce. Platinum, on the other hand, declined by 0.60% to sell for $926.81 per ounce. Palladium dropped by 0.63%, going for $994.35 per ounce.
