Gold Lingers Near One-Week Low Ahead of US CPI Data
21 Articles
21 Articles
Gold prices, seeking a recovery in Asian markets after yesterday's sharp sell-off, are maintaining a cautious stance ahead of today's release of US August consumer inflation (CPI) data. This critical data, to be announced at 3:30 PM Turkish time, will influence the Federal Reserve's (Fed) interest rate path.
Gold prices held steady near their lowest level in a week on Friday. Spot gold was trading at around $4,318.88 per ounce by 00:20 GMT, after earlier hitting its lowest point since September 2nd. Prices had fallen by about 2% on Thursday, while U.S. gold futures for December delivery declined 1.1% to $4,359.50. Among other precious metals, spot silver slipped 0.1% to $63.48, while platinum was steady at $1,777.42, and palladium dipped 0.2% to $…
Today, the price of gold fell to its lowest level in a week, with rising expectations of interest rates in the United States, while investors expect USCPI data later today.
The Economic Times
Times of IndiaGold lingers near one-week low ahead of US CPI data
As U.S. rate hike expectations firmed up, gold prices remained near a one-week low. The market is gearing up for the pivotal U.S. consumer price index data set to be unveiled later today, heightening anticipation. Speculation swirls around a potential increase in borrowing costs by the Federal Reserve in its next meeting. Additionally, the European Central Bank has raised rates to tackle inflation driven by energy.
Gold rose as operators remain alert to possible interest rates that the Federal Reserve will report next week
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