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Gold Rises Before Inflation Report That May Determine Fed Path

Tuesday, 13 February 2024 17:50 WIB GOLD EMAS Spot Emas

Gold edged higher ahead of the release of US inflation data that could offer more clarity on when the Federal Reserve will pivot to cutting interest rates. January’s US consumer price index report is forecast to show the first reading below 3% for annual inflation since March 2021. That should bolster the case for rate cuts in the coming months — a tailwind for non-yielding bullion. Still, Citigroup Inc. warns that traders should be wary of a brief period of monetary easing followed by more rate increases shortly thereafter. The bank sees similarities with the macroeconomic environment in 1998, when rapid-fire rate cuts were quickly reversed the following year. Spot gold edged 0.3%...

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The yen fell close to the psychological 150 per dollar level on Tuesday ahead of a key reading on U.S. inflation due later in the day, while the pound rose to an almost six-month high against the euro after stronger-than-forecast wage data. The...

Gold ticks up ahead of US inflation data

Tuesday, 13 February 2024 15:36 WIB GOLD EMAS

Gold prices edged up on Tuesday, ahead of a U.S. inflation report that could give fresh perspective on the timing of the Federal Reserve's first rate cut. Spot gold was up 0.2% to $2,023.89 per ounce (Oz), as of 0733 GMT, after briefly slipping to...

Sterling edges up after faster-than-forecast wage growth The pound edged higher on Tuesday after British wages excluding bonuses grew by more than forecast in the final three months of 2023 and the unemployment rate dropped to 3.8%. The pound was...

The Swiss franc fell to a nine-week low against the dollar on Tuesday, after Swiss consumer price inflation slowed by more than forecast in January. Swiss consumer prices rose 1.3% from a year ago in January, down from 1.7% in December and below...

Oil prices rose on Tuesday on fears Middle East tensions could disrupt supply, but uncertainty about the pace of potential U.S. interest rate cuts and the ensuing impact on fuel demand capped gains. Brent futures edged up 31 cents, or 0.4%, to...

Gold was steady before the release of inflation data later Tuesday that could offer more clarity on when the US Federal Reserve is likely to start a pivot to cutting interest rates. January’s US consumer price index report is forecast to show...

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    Precious Metals

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