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Gold climbs as traders brace for US inflation data
Gold prices firmed for a third consecutive session on Thursday, with investors awaiting US inflation data due later in the day for more insights on the Federal Reserve’s interest rate path. Spot gold gained 0.5% to $2,381.83 per ounce by 0437 GMT. US gold futures rose 0.3% to $2,385.50. The dollar was on the back foot, making greenback-priced bullion more attractive for other currency holders. The June Consumer Price Index (CPI) report is due at 1230 GMT and the Producer Price Index (PPI) reading on Friday. Any downside surprise in the CPI report could weaken the dollar and push up gold prices to the $2,400 level, ... (full story)
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- Posted: Jul 11, 2024 3:56am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 314
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