PT Solid Gold Berjangka | Gold Holds Decline as Inflation Data Show Fed Battle Isn’t Over

01:38 13 March in Commodity, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP

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

Solid Gold Berjangka | Thank you for sharing that information about the recent developments in the gold market. Here’s a summary of the key points:

  • Gold experienced a decline after nine consecutive days of gains, following a hotter-than-expected US inflation report. This report dampened investor expectations of a Federal Reserve pivot to monetary easing.
  • Bullion closed 1.1% lower after the core consumer price index rose 0.4% from January, slightly above the consensus forecast. This reinforced the cautious approach of US policymakers toward rate cuts.
  • Despite this, traders are still holding onto expectations of rate cuts this year, with swaps markets pricing in a 63% chance of a reduction in June.
  • US Treasuries also saw a slump after weaker-than-expected demand during a $39 billion auction. Higher yields and rates tend to be negative for gold, which does not offer interest.
  • Investors are now looking ahead to the Federal Open Market Committee’s (FOMC) quarterly forecasts for rates, due next week. These forecasts will include the impact of the latest employment and inflation figures.
  • Gold’s recent rally has been supported by haven buying amid increasing geopolitical risks, as well as increased purchases by central banks.
  • As of the time of the report, spot gold was holding steady at $2,159.52 an ounce in Singapore, after reaching an intraday record of $2,195.15 on Friday. Silver prices edged higher, while palladium and platinum remained relatively unchanged.

Source: Bloomberg

This summary provides an overview of the factors influencing the recent movements in the gold market and the broader economic context affecting precious metals.