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Gold Prices Slip; Soft U.S. Inflation Data, Fed Meeting in Focus


Monday, 29 April 2019 12:53 WIB

GOLDEMAS


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Gold prices slipped on Monday in Asia as market awaits the outcome of the next FOMC meeting.

Gold futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, were down 0.1% at $1,287.05 per ounce by 1:16 AM ET (05:16 GMT).

The Fed will conclude its two-days meeting on Wednesday amid expectations that interest rates will remain on hold.

The meeting is coming after official data showed on Friday that the U.S. economy grew fast than expected in the first quarter.

The Fed indicated at its March meeting that it will hold off from hiking rates for the rest of the year amid expectations for a slower pace of economic growth.

Meanwhile, soft U.S. inflation data released on Friday put pressure on the dollar and was cited as supportive for the precious metal earlier in the day.

Source : Investing.com


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