PT Rifan Financindo Berjangka – Gold Edges Lower; Likely to Be Volatile Near Term
Gold prices are slightly lower in early Asian trade. Gold will likely be volatile in the short term amid expectations for fewer Fed rate cuts in 2025 and a stronger dollar, Sinolink Securities analyst Li Chao says in a research note.
India, a key gold consumer, expects a significant drop in imports in December, Exness markets strategist Terence Hove says in a note. However, “escalating tensions in Europe and Middle East could spur safe-haven assets’ demand, lending some support to gold prices,” Hove says.
Spot gold is 0.1% lower at $2,620.52/oz.
Source: Marketwatch
Gold climbs after soft US inflation data; still set for weekly loss
Gold prices extended gains on Friday, supported by a softer dollar and Treasury yields after U.S. economic data indicated a slowdown in inflation, although the Federal Reserve’s hawkish interest rate outlook kept bullion on track for a weekly loss.
Spot gold was up 1.2% at $2,624.15 per ounce, as of 01:41 p.m. ET (1841 GMT) and U.S. gold futures settled 1.4% up at $2,645.10.
The dollar fell 0.6% from its two-year high, making gold less expensive for overseas buyers, while Treasury yields edged down from an over six-month high.
The report showed that monthly inflation slowed in November after showing little improvement in recent months. The personal consumption expenditures (PCE) price index rose 0.1% last month after an unrevised 0.2% gain in October.
Spot silver rose 1.8% to $29.54 per ounce, platinum gained 0.5% to $928.34 and palladium climbed 1.5% to $919.56. PT Rifan Financindo Berjangka.
Source: Reuters