PT Solid Gold Berjangka | Gold Falls for Fourth Day Ahead of Key Fed Inflation Gauge

03:56 25 April in Commodity, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP


Solid Gold Berjangka | Gold fell for a fourth day ahead of the release of inflation data that will shape expectations for US monetary policy and the trajectory of the dollar.

Bullion dropped toward $2,300 an ounce, after declining by more than 3% in the week’s first three sessions as geopolitical risks in the Middle East eased, hurting demand for haven assets. The run of declines pushed the precious metal to its lowest close since April 4.

Traders are eyeing Friday’s release of the personal consumption expenditures index — the Federal Reserve’s preferred measure of inflation. It is forecast to show that price pressures remained elevated in March. That would support the case for a delay in rate cuts, a headwind for gold as it doesn’t pay interest.

Gold has rallied strongly this year, hitting a record earlier this month, despite expectations fading for easier policy from the Fed. That shift has aided the US currency and Treasury yields, which traditionally act as drags on bullion. The metal’s robust performance has been linked to central-bank buying, surging interest in some Asian markets including China, and the possibility that investors may be seeking protection against sticky inflation.

Spot gold was 0.4% lower at $2,308.06 an ounce as of 11:26 a.m. in Singapore, more than 12% higher this year. Silver dropped 0.6% to $27.0112 as platinum and palladium also fell. The Bloomberg Dollar Spot Index was flat.

Source : Bloomberg