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Indonesia News Portal for Traders | Financial & Business Updates

16 October 2024 07:30  |

Gold Prices Steady Ahead of Key U.S. Economic Data and Fed Official's Speech

Gold is trading unstable in early Asian trade ahead of major U.S. economic data due this week such as September retail sales on Thursday and a speech from Fed Gov. Waller on Friday.

These events are likely to provide valuable insights into the upcoming U.S. central bank's monetary-policy decisions, says Tito Iakopa, commercial director at FlowCommunity, in an email. Any significant adjustments to the Fed's future interest-rate trajectory could influence market sentiment as well as the non-interest-bearing precious metal, Iakopa adds.

Spot gold is little changed at $2,661.87/oz.

Source: Bloomberg

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