Gold prices flat as markets await US CPI data
GLD•Spot gold was little changed at $4,161.05 an ounce in early Asian trading as markets awaited US CPI data. US gold futures rose 0.2% to $4,185.00.
1. Markets await inflation data
Spot gold was little changed at $4,161.05 per ounce by 0011 GMT, while US gold futures rose 0.2% to $4,185.00. The US CPI report was due at 1230 GMT, with PPI and retail sales data scheduled for Thursday.
2. Rate outlook and other metals
Markets were pricing in a 23% chance of a US rate hike this month and an 88% probability of an increase in December, according to CME's FedWatch Tool. New York Fed President John Williams said the central bank may need to raise rates once more this year; Fed Governor Christopher Waller said rising bond yields reflected stronger economic growth, while inflation expectations remained “well anchored.” Spot silver fell 0.5% to $59.12, platinum lost 0.4% to $1,656.08 and palladium eased 0.1% to $1,124.39.
