On Thursday, the price of gold stayed very close to the lowest point it has seen in the last two months. This situation unfolded because investors were carefully considering what two officials from the U.S. Federal Reserve had said. These officials spoke about the inflation in January, noting that it was higher than many had expected. This higher-than-expected inflation made investors less optimistic. They started to doubt whether the Federal Reserve would be able to cut interest rates quickly and by a large amount within the year.
Looking at the specific numbers, the price of spot gold remained unchanged at $1,992.33 per ounce around 7:06 AM GMT. This lack of change in price happened after the price of gold had fallen to its lowest since December 13, on the previous Wednesday. The futures for U.S. gold also showed no movement and stayed at $2,004.20 per ounce.