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Gold slips as US dollar firms, traders brood on rate cut timing
Gold prices dipped on Wednesday as the dollar edged up, while market participants assessed the timeline for potential U.S. interest rate cuts and were on the lookout for fresh cues for further clarity on monetary policy. Spot gold was down 0.1% at $2,311.07 per ounce as of 0235 GMT. U.S. gold futures fell 0.3% to $2,316.60. The dollar index rose 0.1%, making greenback-priced gold more expensive for other currency holders. This week’s economic calendar includes the University of Michigan’s consumer sentiment reading on Friday and comments from a slew of Fed officials. The U.S. consumer price index data is due on ... (full story)
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- Posted: May 8, 2024 2:28am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 280
