DJIA26548.22
LIVE-179.32(-0.67%)
NDX7591.54
LIVE-131.48(-1.70%)

Gold Advances as Weak CPI Boosts Fed's Rate-Cut Case


Thursday, 13 June 2019 15:33 WIB

GOLDEMAS


c_740_198_16777215_00_images_assets_GOLD_00137427_620.jpg

Gold climbed for a second day as weaker-than-expected U.S. inflation data bolstered the case for the Federal Reserve to cut interest rates.

The core consumer price index, which removes energy and food costs, rose 2% in May, according to a Labor Department report Wednesday, while monthly core price-rises, as well as a wider measure of annual inflation, also came in below estimates. The market-implied odds of a July cut increased, with Fed funds futures indicating almost a quarter-point of easing in the next two months.

Also in focus are the the latest developments on the trade front with President Donald Trump saying he had no deadline for China to return to negotiations, other than the one in his head. Investors may also turn their attention to the Gulf of Oman, where two tankers were damaged in a suspected attack.

Spot gold +0.4% to $1,338.23/oz at 8:25am in London after +0.5% Wednesday.

Source : Bloomberg


RELATED NEWS

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.