Gold Prices Flat Before U.S. Inflation Report
Gold prices are flat in early Asian trade as the market looks for more clarity on the scale of potential interest rate cuts from the Fed, Daria Efanova, head of research from Sucden Financial writes in an email.
"Gold is going about its business, holding near all-time highs, and patiently waiting for the next catalyst that could promote a renewed leg higher," Chris Weston, head of research at Pepperstone says. Investors will keep an close eye on the inflation report due later in the global day. A lower than consensus U.S. CPI could send gold to new highs because of heightened rate cut expectations, Weston adds.
Spot gold is flat at $2,516.57/oz.
Source : Dow Jones Newswires