Stand still and wait for news, CPI news trading strategy today
World gold prices were relatively stable with spot gold down 5.3 USD to 2,023.5 USD/ounce. Gold futures last traded at 2,029.3 USD/ounce, down 3.7 USD compared to yesterday morning.
World gold decreased slightly in the mid-week trading session as investors were waiting for US inflation data to gain more clarity on the US Federal Reserve's (Fed) interest rate roadmap this year.
RJO Futures senior market strategist Bob Haberkorn said lower-than-expected inflation data would give the Fed more reason to cut interest rates this year, which would push gold prices higher.
US consumer price index data will be released on Thursday. According to a Reuters poll, economists predicted annual inflation would come in at 3.2% in December, but said core inflation could fall to 3.8%, the lowest since December. mid-2021.
A report from the New York Fed revealed that consumers expect inflation to decline, while Fed Governor Michelle Bowman said on Monday that the US Central Bank's monetary policy appeared to be "adequate". limit".
World gold decreased slightly in the mid-week trading session as investors were waiting for US inflation data to gain more clarity on the US Federal Reserve's (Fed) interest rate roadmap this year.
RJO Futures senior market strategist Bob Haberkorn said lower-than-expected inflation data would give the Fed more reason to cut interest rates this year, which would push gold prices higher.
US consumer price index data will be released on Thursday. According to a Reuters poll, economists predicted annual inflation would come in at 3.2% in December, but said core inflation could fall to 3.8%, the lowest since December. mid-2021.
A report from the New York Fed revealed that consumers expect inflation to decline, while Fed Governor Michelle Bowman said on Monday that the US Central Bank's monetary policy appeared to be "adequate". limit".
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