PT Solid Gold Berjangka | Gold Set for Solid Quarterly Gain With US Inflation Data in View
GOLD EMAS Spot Emas Gold Spot PT SGB Solid Gold Berjangka Solid Group SG Berjangka
Solid Gold Berjangka | Gold posted its highest quarterly profit since the pandemic-ravaged 2020, ahead of a US inflation print revealing when the Fed could start cutting interest rates by 3 per cent.
Bullion for immediate delivery was steady near 2,323 ounces after gaining more than 1 percent on Thursday. For the quarter, commodities have risen more than 4%, setting a nominal daily record last month.
Traders were also set to focus on the first 2024 debate between President Joe Biden and former President Donald Trump in case their comments caused market volatility.
Gold has advanced this year, rising supported by expectations of policy easing from the Fed and sustained demand in Asia, where much of the region’s currency is weakening. Coordinated purchases by central banks have also supported precious metals, offsetting the drag from sales by exchange-traded funds backed by bullion.
US figures after Friday are expected to show that the Fed’s preferred gauge of underlying inflation slowed to an annual rate of 2.6 percent last month, and if confirmed in 2021, it might help bullion because it is not paying interest rates and help a way to lower U.S. interest rates.
Spot gold was at 2,323.48 ounces in Singapore at 8:52A.M.With little change in m, the Bloomberg Dollar Spot index headed for a narrow weekly rise. Silver traded near 29 ounces, up 16 percent this quarter, while platinum and palladium both rose.
Source: Bloomberg