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PT Solid Gold Berjangka | Gold Holds Gain Before Inflation Data That May Signal Rate Path

02:33 29 February in Commodity, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP
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GOLD EMAS PT SGB Solid Group SG Berjangka Solid Gold Berjangka

Solid Gold Berjangka | Gold held a gain ahead of US inflation data as traders digested the latest comments from Federal Reserve officials that indicated a pivot toward monetary easing is unlikely before June.

The precious metal has been trading in a narrow range this week and is little changed since Friday’s close. The Fed’s preferred gauge of underlying inflation — the core personal consumption expenditures index — is due later Thursday, and the read may provide more clues on future monetary policy.

Swaps traders have been parsing US data and comments from Fed officials for signs on when to expect interest rate cuts, which are typically positive for non-interest-bearing bullion. They are currently pricing around 80 basis points of easing by year-end — almost in line with what officials in December indicated as the likeliest outcome.

On Wednesday, New York Fed President John Williams said the central bank has “a ways to go” in its battle against inflation, while Atlanta Fed chief Raphael Bostic urged patience in regard to policy tweaks.

Gold was little changed at $2,034.95 an ounce as of 9:04 a.m. in Singapore, after gaining 0.2% on Wednesday. The Bloomberg Dollar Spot Index was flat. Silver and platinum were steady, while palladium fell for a fourth session.

Source : Bloomberg