PT Solid Gold Berjangka | Gold Steady Ahead of Key Data as Traders Temper Rate-Cut Hopes
GOLD EMAS PT SGB SOLID GOLD BERJANGKA SG BERJANGKA SOLID GROUP
Solid Gold Berjangka | Gold was steady ahead of a crucial US inflation report, with markets tempering expectations for Federal Reserve rate cuts early this year.
Investors are gearing up for turbulent trading in the wake of US consumer price data due later Thursday, which may firm views on when the Fed will start easing monetary policy. Yields on longer-maturity US government bonds climbed on Wednesday, with all but the shorter end of the curve facing selling pressure as traders added bets that stand to benefit from any slide in Treasuries. Higher yields and borrowing costs are typically negative for non-interest bearing bullion.
Economists polled by Bloomberg expect year-over-year core inflation to fall to 3.8% in the December data from 4% in the prior month. Swaps markets are pricing in a lower chance of expected Fed cuts by March, relative to late last year.
Gold was 0.1% higher at $2,027.38 an ounce as of 8:09 a.m. in Singapore, after dipping 0.3% on Wednesday. The Bloomberg Dollar Spot Index was 0.1% lower. Silver and platinum were little changed, while palladium rose.
Source : Bloomberg