Business · Markets · 7 hrs ago
Gold slips as investors await US inflation data
Spot gold prices edged lower in Asian trading on Tuesday, while US gold futures rose.
Investors were waiting for US inflation figures due later in the day.
The data may offer clues about the Federal Reserve’s next interest-rate decision, which can affect gold’s appeal.
Gold does not pay interest, so higher rates can make it less attractive to investors.
Fed officials have said inflation remains a key risk, and traders see an 84% chance of a rate increase in December.
The US consumer price index is due next, followed by producer price data on Friday.
Gold prices edged lower in early Asian trade on Tuesday as investors awaited US inflation data for clues about the Federal Reserve’s next policy move.
Spot gold fell 0.3% to $4,128.48 per ounce by 0024 GMT.
US gold futures for December delivery rose 0.6% to $4,137.60.
The US consumer price index report was due at 1330 GMT, with producer price data scheduled for Friday.
- Who
- Investors awaited US inflation data; gold prices edged lower.
- What
- Spot gold fell 0.3%, while US gold futures for December delivery rose 0.6%.
- When
- Tuesday, with spot gold prices reported at 0024 GMT.
- Where
- Early Asian trade; the inflation data was from the United States.
- Why
- Investors were looking for clues about the Federal Reserve’s next policy move.
This story does not have two clearly opposing sides.
Gold rose more than 1% after oil prices softened.
Tom Barkin said the central bank should move its monetary policy with care as it responds to inflation.
Spot gold was down 0.3% to $4,128.48 per ounce.
The US consumer price index report was due.
- Spot gold
- Down 0.3% to $4,128.48 per ounce
- Price time
- 0024 GMT
- US gold futures
- December delivery rose 0.6% to $4,137.60
- US CPI report
- Due at 1330 GMT
- US PPI data
- Due Friday
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