PT Solid Gold Berjangka | Gold Edges Lower After Rallying Friday on Fed Rate-Pause Hopes
Solid Gold Berjangka | Gold edged lower after rallying Friday on optimism the Federal Reserve can avoid implementing further monetary tightening.
Bullion rallied while Treasury yields fell on Friday as data showed US job growth slowed more than anticipated in October, while the unemployment rate rose to an almost two-year high. The results provided fresh indications the central bank’s policies are bringing inflation under control. Lower rates are typically good for non-interest bearing gold.
The precious metal is still up more than 8% after being boosted by haven buying in the wake of the Hamas attacks on Israel a month ago.
Spot gold was down 0.2% to $1,989.52 an ounce at 8:47 a.m. in Singapore. The Bloomberg Dollar Spot Index was little changed. Silver, platinum and palladium fell.
Source : Bloomberg, PT SGB, SOLID GROUP, SOLID GOLD BERJANGKA