16 Hrs
Source:
الراي
Gold steadies ahead of US CPI data
Gold prices remained stable in early Asian trading, with the ounce valued at $4,161.05. Investors are awaiting the release of the U.S. Consumer Price Index data, which could influence the Federal Reserve's decision to either raise or hold interest rates. Market expectations currently suggest a 23% chance of a rate hike this month, compared to 88% in December, as higher interest rates typically put downward pressure on gold prices. Additionally, predictions indicate the possibility of another interest rate increase later this year to curb inflation. Meanwhile, the prices of other precious metals like silver, platinum, and palladium declined.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)