Gold Steady as Markets Strap in for Inflation Data
4 Articles
4 Articles
Gold steady as markets strap in for inflation data
Gold prices showed little movement as early Asian trading commenced, with many awaiting US inflation data this week. Spot gold remained steady after reaching a one-week high on Friday, while US gold futures saw a slight increase. Key data to be released includes the Consumer Price Index and Producer Price Index reports on Wednesday and Thursday. Rising interest rates have impacted gold's attractiveness as an investment, amid ongoing economic con…
Global gold prices surpassed the $4,200/ounce mark early this week after a strong rebound from last week's lows. Half of Wall Street experts predict further price increases, but US inflation data could challenge the recovery.
Cash gold rose 1.5% to $4,194.36 per ounce, earning a weekly profit of 1.3 percent.
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