US Edition[Opinion] Gold Price Down on Profit Taking Ahead of U.S. CPI
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The price of gold in domestic markets and the global exchange declined during today's Thursdays, affected by the rise in the dollar and the wave of profits, at a time when markets are anticipating the release of inflation data in the United States, which will be defined as the touchstones of future monetary policy, according to a report from a platform designed to trade gold and jewelry over the Internet. Said Embabi, Executive Director of a pla…
Gold Retreats Under Pressure from Dollar and Profit-Taking… Markets Await U.S. Inflation Data
Gold prices declined in both local markets and global exchanges on Thursday, pressured by a stronger U.S. dollar and a wave of profit-taking, as markets await the release of U.S. inflation data, which will help shape the next steps in monetary policy, according to a report by the online trading platform iSagha.
Gold was going down on Thursday morning, but it remained close to historic highs above $3,600, as a modest recovery of the dollar and profit making were pushing prices, while investors were waiting for the U.S. consumer inflation figures to be published today. Cash gold lost 0.5 percent and traded at $3,621.19 an ounce at 4:16 a.m. CDMX time. Ingot reached a historic high of $3,673.95 on Tuesday. US gold futures for delivery in December fell 0.6…
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