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Gold holds tight range ahead of US economic data
Gold prices traded in a tight range on Wednesday as investors stayed away from taking big bets ahead of US economic growth data this week, while expectations of slower interest rate hikes from the Federal Reserve kept bullion’s outlook bright. Spot gold was steady at $1,937.09 per ounce, as of 0249 GMT, after hitting its highest since late April 2022 on Tuesday. US gold futures were up 0.2% at $1,940.00. Market focus is now on the fourth-quarter US GDP data due on Thursday, which could set the tone for the Fed’s Jan. 31-Feb. 1 policy meeting. The market is not taking a clear direction ahead of the US GDP data and ... (full story)
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- Posted: Jan 25, 2023 3:28am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 139
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