
PT Solid Gold Berjangka | Gold Steadies After Rising on Drop in US Inflation Expectations
Gold was steady in Asia after rising 0.7% 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 beginning of August. A rally in the dollar since mid-July has kept bullion subdued.
Spot gold was little changed at $1,924.20 an ounce as of 8:48 a.m. in Singapore, after rising 0.3% last week. The Bloomberg Dollar Spot Index declined 0.1%. Silver, platinum and palladium edged higher.
Source : Bloomberg
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