PT Solid Gold Berjangka | Gold Edges Higher as Investors Seek Clues on Fed’s Rate Path

01:29 10 January in Commodity, Gold, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP

GOLD EMAS Spot Emas Spot Gold PT SGB Solid Group SG Berjangka Solid Gold Berjangka

Solid Gold Berjangka | Gold edged higher, after declining on Monday, as investors scrutinized data and policymaker comments for clues on the Federal Reserve’s path on interest rates.

US data on Friday showed an unexpected acceleration in job growth, initially fueling speculation the Fed will be in no rush to reduce rates, but that was countered as the services sector came close to stagnating at the end of the year. Rising interest rates typically serve as a headwind for gold, which bears no interest.

On Monday, a New York Fed survey showed inflation expectations diminishing at the one-year horizon, bolstering the case for an end to monetary tightening. Swaps traders see a 57% chance of the central bank cutting rates by March, down from 67% at the end of last week.

Gold prices has remained above $2,000 an ounce since Dec. 13 on signs the Fed’s rate hike campaign is over. Thursday’s US inflation print could provide some clarity on when the first rate cut may come.

Gold rose 0.4% to $2,035.98 an ounce as of 12:25 p.m. in London, after falling 0.9% on Monday. The Bloomberg Dollar Spot Index rose 0.2%. Palladium declined, while silver and platinum were steady.

Source : Bloomberg