Gold advances as mild US inflation data puts Fed rate hike in doubt
GLD•Upcoming data and events
| Time (GMT) | Data/Event |
|---|---|
| 0600 | UK GDP Est 3M/3M Jun |
| 0600 | UK GDP Estimate MM, YY Jun |
| 0600 | UK Services MM, YY Jun |
| 0600 | UK Manufacturing Output MM Jun |
| 0600 | UK GDP Prelim QQ, YY Q2 |
| 1230 | US Initial Jobless Clm 8 Aug, w/e |
| 1230 | US PPI Machine Manuf'ing Jul |
Other precious metals also gain
-
In other metals, spot silver
XAG=gained about 1% to $65.91 per ounce, having climbed to its highest since June 22 in the previous session. -
Platinum
XPT=added 0.3% at $1,762.70, while palladiumXPD=was up 0.1% at $1,371.20.
Gold rises to over two-month high on softer inflation
Aug. 13 (Reuters) - Gold hit an over two-month high on Thursday, as tame U.S. consumer inflation undermined expectations of an imminent Federal Reserve rate hike, with markets awaiting producer price data for more signs of cooling price pressures.
-
Spot gold
XAU=climbed 0.6% to $4,433.62 per ounce by 0108 GMT, after jumping about 1% to its highest since June 5 earlier. U.S. gold futures for December delivery were also 0.6% higher at $4,493.
