Gold slips as firm US yields and dollar cap rebound, with markets eyeing Fed minutes and CPI | Metals Mine

  • Gold slips as firm US yields and dollar cap rebound, with markets eyeing Fed minutes and CPI

    From vtmarkets.com

    Gold fell about 0.50% on Monday, with XAU/USD trading at $4,153, as firm US yields and a steady dollar limited a post-jobs data bounce even as markets pared expectations for a more hawkish Federal Reserve. The ISM Services PMI eased to 54 from 54.5; however, the Employment Index firmed and the prices paid gauge slowed to 67.7 from 71.3. Rate pricing shifted, with an 88% probability of a December hike and 22 basis points of tightening implied, while July is priced for no change with 77% odds, according to Prime Terminal data. The US Dollar Index was up 0.03% at 100.90 and the 10-year Treasury yield held at 4.451%, ... (full story)

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