Investing.com UK on Nostr: Gold prices rangebound around $2,300 amid rate jitters, inflation watch ========== ...
Gold prices rangebound around $2,300 amid rate jitters, inflation watch
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Gold prices fell in Asian trade on Tuesday, sticking to a tight trading range in the low $2,300s as recent strength in the dollar and anticipation of key inflation data kept traders averse to the yellow metal. Gold fell 0.4% to $2,325.56 an ounce, while silver fell 0.3% to $2,337.35 an ounce. Traders grew uncertain over the prospect of U.S. interest rate cuts this year. Inflation data for May showed price pressures remaining relatively heady. Unexpectedly strong purchasing managers index prints for June also sparked concerns that strength in the U.S. economy will keep rates high for longer. The focus this week is on PCE price index data, which is the Federal Reserve’s preferred inflation gauge. Other precious metals were mixed on Tuesday, with platinum rising 0.4% to $1,016.55 an ounce and palladium falling 0.1% to $29.817 an ounce. Copper prices advanced on Tuesday, recovering marginally from recent losses. Copper on the London Metal Exchange rose 0.4% to $9,703.50 a tonne, while one-month copper rose 0.5% to $4.4413 a pound. Concerns over China's trade war with the European Union and the U.S. have affected sentiment towards copper.
#Gold #RateJitters #Inflation #Trading #Dollar #InterestRates #PreciousMetals #Copper #China
https://uk.investing.com/news/commodities-news/gold-prices-rangebound-around-2300-amid-rate-jitters-inflation-watch-3561310
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Gold prices fell in Asian trade on Tuesday, sticking to a tight trading range in the low $2,300s as recent strength in the dollar and anticipation of key inflation data kept traders averse to the yellow metal. Gold fell 0.4% to $2,325.56 an ounce, while silver fell 0.3% to $2,337.35 an ounce. Traders grew uncertain over the prospect of U.S. interest rate cuts this year. Inflation data for May showed price pressures remaining relatively heady. Unexpectedly strong purchasing managers index prints for June also sparked concerns that strength in the U.S. economy will keep rates high for longer. The focus this week is on PCE price index data, which is the Federal Reserve’s preferred inflation gauge. Other precious metals were mixed on Tuesday, with platinum rising 0.4% to $1,016.55 an ounce and palladium falling 0.1% to $29.817 an ounce. Copper prices advanced on Tuesday, recovering marginally from recent losses. Copper on the London Metal Exchange rose 0.4% to $9,703.50 a tonne, while one-month copper rose 0.5% to $4.4413 a pound. Concerns over China's trade war with the European Union and the U.S. have affected sentiment towards copper.
#Gold #RateJitters #Inflation #Trading #Dollar #InterestRates #PreciousMetals #Copper #China
https://uk.investing.com/news/commodities-news/gold-prices-rangebound-around-2300-amid-rate-jitters-inflation-watch-3561310