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Gold on Track for Third Weekly Loss as U.S. Inflation Data Looms
Traders lifted rate-hike bets after a stronger producer price reading, leaving gold on track for a third straight weekly decline.
- Gold prices head for a third consecutive weekly loss on Fri as traders await consumer price index Data to gauge the Federal Reserve policy path.
- Data showed the Producer Price Index rose 0.4 per cent on Thursday, following an upwardly revised 0.1 per cent gain, strengthening expectations of a rate hike.
- Among other metals, Spot silver lost more than 4 per cent for the week while Spot gold fell more than 2 per cent; Platinum eased 0.2 per cent.
- Traders increased bets that the Fed will raise interest rates next week, with Wael Makarem, financial markets strategists lead at Exness, noting stronger inflation data could reinforce rate increases.
- Ongoing Middle East tensions, including Iran-aligned Houthis seizing Yemen port city of Mocha, could weigh on Gold through higher inflation expectations, as President Donald Trump expects the Iran war to end.
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bhaskarlive.in
bhaskarlive.inGold dips 2 pc on weekly basis over US Fed rate hike concerns
New Delhi, Sep 12 (SocialNews.XYZ) Gold prices dipped almost 2 per cent on a weekly basis amid elevated crude oil prices and rising expectations of a Federal Reserve rate hike, pushing investors away from precious... - Social News XYZ
Gold prices spent most of this Labor Day-shortened week posting losses as global markets turned their attention to an interest rate hike by the U.S. Federal Reserve.
Economy: Direct - Today's gold prices are going on Friday to record a weekly decline for the third week in a row, despite their slight rise during today's dealings, as investors expect inflation data to be released...
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Leaning Left1Leaning Right2Center0Last UpdatedBias Distribution67% Right
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67% Right
L 33%
R 67%
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