PT Solid Gold Berjangka | Gold Steadies Ahead of US Inflation Print That May Impact Rates

02:26 14 March in Commodity, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP

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

Solid Gold Berjangka | Gold held an advance ahead of US data as markets seek clarity on the strength of inflation, which could provide clues on when the Federal Reserve will start to loosen policy settings.

The precious metal remains close to its intraday record of $2,195.15, reached on Friday. The producer price index reading, due later Thursday, will be the final inflation report before next week’s Fed rate decision. Policymakers are expected to hold borrowing costs steady for a fifth straight meeting, with swaps markets anticipating a cut in June.

Meanwhile, bullion also saw support from a stabilization in Treasury yields after an auction for 30-year bonds drew strong demand from investors. Both higher yields and rates are generally negative for gold, which doesn’t generate interest.

Spot gold was steady at $2,174.49 an ounce at 8:25 a.m. in Singapore, after rising 0.7% in the previous session. Silver and palladium edged higher, while platinum was flat.

Source : Bloomberg