Gold Lackluster Ahead of Inflation Data as Oil Prices Rise
Spot gold slipped 0.4% as traders weighed a 60% chance of a Federal Reserve rate hike, according to the CME FedWatch Tool.
6 Articles
6 Articles
Gold subdued on inflation worries, rate hike expectations
Gold prices fell on Wednesday as conflicts in the Middle East intensified. The surge in crude oil prices typically fuels inflationary pressures. Key U.S. inflation data is anticipated later this week, leading traders to predict a forthcoming interest rate increase from the Federal Reserve. Meanwhile, the Bank of England is likely to hold steady with its rates for now.
Future gold contracts closed this Tuesday in decline, penalized by inflationary fears caused by high oil prices. Although the barrel delivered much of the advance today, there is a certain degree of caution between investors before the release of the producer price index (PPI) and consumer price index (CPI) on Thursday and Friday, since the indicators can set the direction of the Federal Reserve (Fed) monetary policy next week. In Comex, the New…
Gold prices fell slightly on Tuesday, as the rise in oil prices fueled concerns about inflation and boosted expectations of a rise in rates by the Federal Reserve at next week's monetary policy meeting, while investors await US inflation data.
Coverage Details
Bias Distribution
- 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
