Bloomberg on Nostr: Gold Steadies Before US Inflation Data Bring Clues on Rate Path ========== Gold ...
Gold Steadies Before US Inflation Data Bring Clues on Rate Path
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Gold steadied after rising almost 1% on Tuesday, before US inflation data that may shed light on the Federal Reserve’s rate path. Bullion traded near $2,356 an ounce ahead of the release of the core consumer price index later on Wednesday. The data are forecast to show underlying inflation in the US probably moderated in April for the first time in six months, which could bolster the case for rate cuts this year, a positive for gold as it doesn’t pay interest. Spot gold dipped 0.1% to $2,356.47 an ounce as of 8:17 a.m. in Singapore. Platinum jumped, and has surged about 5% this week as the World Platinum Investment Council revised forecasts to forecast a bigger deficit of 476,000 ounces this year. Mine supply will fall by 3%, the council said in a report.
#Gold #UsInflation #FederalReserve #RatePath
https://www.bloomberg.com/news/articles/2024-05-15/gold-xauusd-steady-after-jumping-tuesday-ahead-of-us-inflation-data
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Gold steadied after rising almost 1% on Tuesday, before US inflation data that may shed light on the Federal Reserve’s rate path. Bullion traded near $2,356 an ounce ahead of the release of the core consumer price index later on Wednesday. The data are forecast to show underlying inflation in the US probably moderated in April for the first time in six months, which could bolster the case for rate cuts this year, a positive for gold as it doesn’t pay interest. Spot gold dipped 0.1% to $2,356.47 an ounce as of 8:17 a.m. in Singapore. Platinum jumped, and has surged about 5% this week as the World Platinum Investment Council revised forecasts to forecast a bigger deficit of 476,000 ounces this year. Mine supply will fall by 3%, the council said in a report.
#Gold #UsInflation #FederalReserve #RatePath
https://www.bloomberg.com/news/articles/2024-05-15/gold-xauusd-steady-after-jumping-tuesday-ahead-of-us-inflation-data