Gold Gains over 2% After Soft U.S. Inflation Data | Honolulu Star-Advertiser
14 Articles
14 Articles
Gold edges higher on soft US inflation, Gulf conflict clouds rate outlook
Gold prices saw a slight increase on Wednesday as inflation data eased rate hike worries. Renewed Middle East conflict and rising oil prices, however, limited gains for the precious metal. Traders now anticipate a lower probability of a U.S. interest rate increase this year. Investors await China's economic data, which could impact gold demand from the nation.
Gold Prices Smile on Inflation Rather Than US-Iran Conflict; Interest Rate Variables Break Gold's Safe-Handed Asset Formula. Gold prices move more on interest rate outlooks than war risks. Although military tensions between the U.S. and Iran have recently escalated again, the international gold market's attention has focused on the direction of U.S. interest rates rather than on war. The U.S. June Consumer Price Index announced last night
Future gold contracts advanced on Tuesday (14), reflecting the reduction in interest rate bets by the Federal Reserve (Fed, the U.S. central bank) after reading below the expected consumer price index (CPI) in the United States in June. The sharp decline in US Treasury (Treasuries) and foreign dollar securities yields also supported the asset's price dynamics. In Comex, the New York Mercantile Exchange (Nymex) metal division, future gold contrac…
Gold, silver prices today: Comex gold and silver rebound as softer US inflation eases Fed rate hike fears
Gold and silver prices soared on 14 July due to softer US inflation and falling crude oil prices. Gold futures climbed to $4,112, while silver reached $60. Investor fears of rate hikes eased as CPI fell to 3.5%, supporting precious metals amid rising Middle East tensions.
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