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Gold hovers near 3-week low as US dollar firms, focus on U.S. inflation data

From cnbc.com

Gold prices were almost flat on Monday hovering near three-week lows, as the dollar held firm and investors awaited U.S. inflation data for more cues on whether the Federal Reserve will stand pat on rates or hike. Spot gold was up 0.1% at $1,935.09 per ounce, as of 03:19 GMT. U.S. gold futures gained 0.1% to $1,939.10. Gold fell 2.8% last week, logging its worst week in more than a month, as Fed Chair Jerome Powell’s hawkish remarks pushed back any notion about interest rate cuts. “People are kind of focused on whether the CPI data (will) allow the Fed to pause or hike. So I think the markets (are) a little bit ... (full story)

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  • Category: Fundamental Analysis