Gold remains steady at the start of the week
Gold prices steadied in Asian trading ahead of U.S. inflation data that could lead the Federal Reserve to hike interest rates. The price reached $4,161.05 per ounce in spot trading, with markets expecting a 23% chance of an interest rate increase this month according to Fed Watch, down from 88% in December. Consumer price index figures and other data are set to be released this week, which will influence the direction of U.S. monetary policy, amid warnings of global economic risks and geopolitical tensions in the Middle East. Meanwhile, precious metals like silver, platinum, and palladium experienced declines, affected by geopolitical risks and the potential rise in interest rates.
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