Editor’s Note
This update on domestic precious metal prices for July 1 shows a mixed market. While gold saw a slight decline, platinum, silver, and palladium all posted gains, with palladium recording a significant increase.
Today, Monday, July 1, the domestic gold price was 13,143 yen per gram, recording a decline of 11 yen from the previous day.
Platinum rose by 1 yen to 5,574 yen, silver rose by 1 yen to 159 yen, and palladium saw a significant increase of 220 yen to 5,027 yen.
While the US dollar was slightly weaker and stock prices declined, gold futures prices showed a slight increase, but overall, calm movements continued.
This is because the US Personal Consumption Expenditures (PCE) Price Index came in as expected, showing a slight slowdown in inflation.
The US Personal Consumption Expenditures (PCE) Price Index is an indicator that shows changes in the amount consumers actually spend in the United States. It is particularly important as an indicator of the inflation rate.
The fact that the PCE Price Index came in as expected this time means that inflation is being contained within the expected range.
This slowdown in inflation means that the pace of price increases has become slightly more moderate.
When inflation slows, the need for the central bank, the Federal Reserve (FRB), to raise interest rates decreases, which is a reassuring factor for investors.
As a result, investment in safe-haven assets like gold increases, supporting the price of gold.
For investors, gold remains an asset to watch.
Let’s consider future investment strategies while gauging market trends.