The Federal Reserve could cease raising interest rates earlier than expected, according to softer-than-expected U.S. inflation data.

Yellow Metal Shines on Recession fears

Gold futures increased by 0.80% to $2041.20 per ounce by 17:10 IST. While spot gold increased by 0.62 % to $2,027.37 per ounce. Both instruments were set benefit for the third straight day.

Copper prices among industrial metals were unchange as the likelihood of a recession offset encouraging signs from a declining currency and a likely halt to interest rate increases.

After making significant gains this week. The remaining valuable metals were split on Thursday. Silver futures increased 1.04 % to $25.723 per ounce.

There are worries that China’s economic recovery would be sluggish this year as a result of a string of weaker-than-expected indicators from that country.