Gold holds gain after data suggests U.S. inflation is contained around the Federal Reserve's target, giving the central bank little urgency to raise interest rates soon as it signals a more cautious approach in 2019.
Adding to the bullish outlook is the steady increase of holdings in bullion-backed exchange-traded funds, signaling investor interest. The metal’s also on the verge of a golden cross -- where the 50-day moving average climbs above the 200-day moving average -- a pattern considered bullish by some traders.
Spot gold +0.1% at $1,292.11/oz at 1:50pm in Singapore; +0.3% last week to post 4th weekly gain. 50-DMA at $1,247.12, 200-DMA at $1,248.54.
Source : Bloomberg