PT Solid Gold Berjangka | Gold Rises a Third Day After Expectations for US Inflation Drop
Gold extended gains after rising by the most in three weeks on Friday as US inflation expectations fell to the lowest in more than two years.
The reading is likely to encourage Federal Reserve policymakers to reinforce expectations they will hold rates at this week’s meeting. However, the outlook for borrowing costs for the rest of the year remains clouded after the producer price index and retail sales grew more than expected, according to figures released last week.
Gold has lacked direction recently, trading mainly between $1,900 and $1,950 an ounce since the start of August. A rally in the dollar since mid-July has kept bullion subdued
Spot gold was 0.3% higher at $1,928.92 an ounce as of 2:36 p.m. in Singapore, after rising 0.7% in the previous session. The Bloomberg Dollar Spot Index declined 0.1%. Silver and platinum rose, while palladium was steady
Source : Bloomberg
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