Gold rises as dollar eases; US inflation data on radar
22 Articles
22 Articles
Gold slips as investors await US inflation data and Fed signals
Dubai: Gold prices edged lower on Tuesday as investors positioned themselves ahead of key US inflation data that could influence the Federal Reserve's next interest-rate decision.Spot gold fell 0.3% to US$4,390.50 per ounce by 0816 GMT, after rising as high as US$4,442.70 earlier in the session. US gold futures for December delivery declined 0.9% to US$4,435.00 per ounce.Nikos Tzabouras, Senior Market Analyst at Tradu.com, said gold was trading …
With the decline in the US dollar, gold prices, which had been climbing, are now focused on inflation data that will guide the Federal Reserve's (Fed) interest rate decisions.
The price of gold rose globally today, with the dollar falling, as attention is focused on anticipated inflation data that may set expectations for the next step of the Federal Reserve Council (the Central Bank of the United States) on monetary policy.
The Economic Times
Times of IndiaGold rises as dollar eases; US inflation data on radar
Gold prices edged higher on Tuesday due to a weakening U.S. dollar, as investors gear up for crucial inflation data that could sway the Federal Reserve's policy direction. A 60% likelihood of an impending rate increase looms over the market, potentially dampening gold's attractiveness amid soaring interest rates. In parallel, other precious metals, including silver, platinum, and palladium, recorded price increases.
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