Investing.com-- Gold prices steadied in Asian trade on Thursday after clocking strong overnight gains as some soft inflation data pulled the dollar to one-month lows and pushed up expectations of interest rate cuts.
data, pushed up hopes that inflation will ease in the coming months, giving the Fed more confidence to begin trimming rates.High rates push up the opportunity cost of investing in gold and other precious metals, given that they offer no direct yield. The yellow metal may also benefit from increased safe haven demand if the U.S. economy cools further this year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold price trades with a mild positive bias, US CPI and PPI data loomThe gold price (XAU/USD) posts modest gains on the weaker US Dollar (USD) on Wednesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »
Gold jumps as US CPI inflation fuels Fed rate cutsThe gold price (XAU/USD) gains traction amid the weaker US Dollar (USD) on Thursday.
Source: FXStreetNews - 🏆 14. / 72 Read more »
Gold prices steady as dollar eases before CPI test; copper strongGold prices steady as dollar eases before CPI test; copper strong
Source: Investingcom - 🏆 450. / 53 Read more »
US Inflation Preview: How Will CPI Data Impact Gold, the US Dollar & Yields?Wednesday's U.S. inflation report has the potential to stir volatility across assets, so traders should prepare for the possibility of treacherous market conditions, especially if the upcoming CPI numbers surprise to the upside by a wide margin.
Source: DailyFX - 🏆 305. / 63 Read more »
Markets Week Ahead: Gold, US Dollar, Euro and Sterling Ahead of US CPIUS CPI data is likely to set the tone for the week alongside prominent Fed speeches. This article provides a one-stop-shop for all you need to know for the week ahead
Source: DailyFX - 🏆 305. / 63 Read more »
Giant in medical apparel will close Dallas facilities, cut 400-plus jobsComcast is reportedly going to offer a bundle of three streaming services to customers.
Source: wfaa - 🏆 543. / 51 Read more »