Gold prices hold firm ahead of US inflation data
GLD•Spot gold was little changed at $4,159.45 an ounce, while U.S. gold futures edged 0.1% higher to $4,182.60, as investors awaited U.S. inflation data.
GLD•GLD•GLD•Spot gold was little changed at $4,159.45 an ounce, while U.S. gold futures edged 0.1% higher to $4,182.60, as investors awaited U.S. inflation data.
Spot gold was steady at $4,159.45 per ounce by 0251 GMT on Wednesday, and December U.S. gold futures edged 0.1% higher to $4,182.60. Investors were awaiting U.S. consumer price index data due at 1230 GMT.
New York Fed President John Williams said the central bank may need to raise interest rates once more this year to lower inflation. Markets priced in a 23% chance of a rate hike this month and an 88% probability of an increase in December. Higher interest rates tend to diminish bullion’s appeal because it does not pay a yield.
