Gold Futures Flat as Markets Await US Economic Data
Gold futures were flat in relatively quiet trading. Futures were flat at $2,912.10 an ounce. The precious metal gained 0.4% for the week on lingering safe-haven demand and a weaker U.S. dollar. Still, gold prices are trading in a tight range as the market appears to have priced out the inflationary impact of President Trump’s tariff policies given the constant reversals, said Daria Efanova of Sucden Financial in a note.
Market attention is now focused on Wednesday’s U.S. Consumer Price Index data, followed by Thursday’s Producer Price Index data. The economic data could provide more clues on the Federal Reserve’s path toward easing monetary policy. Lower interest rates typically boost the appeal of non-interest-bearing bullion.
Source: Bloomberg