Gold Futures Rise as Market Awaits Key Economic Data, Fed Speeches
Gold futures rise 0.3% to $2,674.0 a troy ounce, holding near all-time highs as the market awaits new catalysts. Key economic data releases over the coming week, including U.S. retail sales reports and unemployment claims, as well as speeches from Federal Reserve officials, are expected to offer the market insights on monetary policy easing decisions over the remainder of the year, says Tito Iakopa commercial director at FlowCommunity.
Any significant shifts in the Fed's interest rate strategy going forward could greatly influence market sentiment and affect gold prices, Iakopa says in a note. The U.S. dollar's recent rebound along with climbing treasury yields could constrain gold's upside potential, but increasing safe-haven demand amid geopolitical tensions and continued easing policies from central banks should support a positive outlook, he adds.
Source : Dow Jones Newswires
