PT Solid Gold Berjangka | Gold Gains in Asia Morning Trade, Reversing Overnight Losses

01:28 14 September in Commodity, SOLID GOLD BERJANGKA | SOLID GROUP

Gold is higher in early Asian trade after retreating overnight. In focus is the latest U.S. inflation data, which showed that consumer prices in August rose at the quickest pace in over a year. The figures suggest the Fed could stay on course to hold rates steady next week.

DailyFx analyst Zain Vawda says that though the inflation print showed “signs of stickiness,” the clarity investors were hoping for failed to materialize and the data will likely spark more speculation on the Fed’s next move. Gold is getting some support from the Chinese central bank’s recent purchases of the metal. ANZ analysts note that in China, gold is trading at a record premium to international prices “as Beijing escalates the defense of its currency.”

Spot gold rises 0.2% to $1,912.58/oz.

Source: Marketwatch


No Comments

Post a Comment