Gold dips ahead of US inflation data
GLD•Spot gold fell 0.3% to $4,128.48 per ounce as investors awaited US inflation data for clues on the Federal Reserve’s next policy move. US gold futures rose 0.6% to $4,137.60.
GLD•GLD•GLD•Spot gold fell 0.3% to $4,128.48 per ounce as investors awaited US inflation data for clues on the Federal Reserve’s next policy move. US gold futures rose 0.6% to $4,137.60.
Spot gold fell 0.3% to $4,128.48 per ounce by 0024 GMT, while US gold futures for December delivery rose 0.6% to $4,137.60. Investors were awaiting the US consumer price index report due at 1330 GMT.
Richmond Federal Reserve President Tom Barkin said the central bank should move its monetary policy “with care” as it responds to inflation, which he called its greatest risk. Traders see an 84% chance of a Fed rate increase in December, while higher rates increase the opportunity cost of holding non-yielding bullion.
