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Gold steady as dollar hovers below 2018 peak


Friday, 11 May 2018 08:32 WIB

GOLDEMAS Spot EmasEmas berjangka


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Gold prices were steady in early trade on Friday, as the dollar held below its 2018 highs against a basket of currencies after softer-than-expected U.S. inflation data.

Spot gold was steady at $1,321.93 per ounce at 01:00 GMT, after rising to the highest since end-April at $1,322.76 in the previous session.

U.S. gold futures for June delivery were nearly unchanged at $1,322.10 per ounce.

The dollar index hovered below a four-and-a-half month high of 93.416 hit earlier this week, after U.S. consumer prices rose less than expected in April, prompting traders to pare bets that higher inflation would lead to faster U.S. rate hikes.

U.S. interest rates futures rose on Thursday even as a smaller-than-expected increase in the U.S. consumer price index in April did not alter traders' expectations the Federal Reserve will mostly likely raise key borrowing costs in June.

Source: Reuters


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