Gold Subdued with Spotlight on US Inflation Data
A firmer dollar and elevated Treasury yields are pressuring bullion before inflation data that could reshape expectations for Federal Reserve policy.
- Spot gold fell 0.2% to $4,164.45 per ounce on Tuesday as a strengthening USD made dollar-denominated metals more expensive for international buyers.
- Markets are bracing for United States inflation data, with the Consumer Price Index due Wednesday and the Producer Price Index scheduled for Thursday, reports that could reshape Federal Reserve policy.
- Traders currently see only a 21% chance of a Fed rate hike this month, but the CME FedWatch tool indicates an 88% probability of an increase by December.
- Cleveland Fed President Beth Hammack said the Fed should move "relatively quickly" to a more restrictive policy stance, as inflation has become broader-based and is influencing firms' price-setting plans.
- On the geopolitical front, Saudi Arabia reported facing a new barrage of incoming fire, with Riyadh airport remaining shut following a strike claimed by Yemen's Iran-allied Houthis.
24 Articles
24 Articles
Gold prices fell today, Tuesday, affected by the rise in the dollar, while investors await US inflation data.
Gold prices showed mixed performance on Monday, pressured by a strengthening dollar and rising oil prices, after reaching a one-week high. All eyes are now on the US inflation figures to be released tomorrow for both gold and the dollar.
Business Recorder
The Hindu Business LineGold eases on firm dollar; spotlight on US inflation data
Gold prices eased on Tuesday as the US dollar held firm, while markets focused on upcoming US inflation prints for fresh signals on the Federal Reserve’s interest-rate trajectory. Spot gold fell 0.2% to $4,164.45 per ounce by 0201 GMT after hitting a one-week peak on Monday. US gold futures for December delivery fell 0.1% at $4,187.90. The US dollar lingered near an 18-month high scaled in the previous session, making dollar-denominated met…
The Economic Times
Times of IndiaGold subdued with spotlight on US inflation data
Gold prices have seen a slight retreat as investors brace for key US inflation figures that could sway interest rates. The robust US dollar further complicates matters, making gold pricier for overseas buyers. While the Federal Reserve is poised to maintain current rates this month, market watchers are speculating on a potential hike in December.
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