Gold holds near one-week low as hot US inflation boosts Fed hike bets
FROM THE WIRE · ECONOMICTIMES.INDIATIMES.COM
Gold prices rose 0.2% to $4,039.07 per ounce in early Asian trade on Wednesday. This increase followed a nearly 3% decline in the previous session due to US inflation data. The data indicated stronger inflation, leading to heightened expectations of a Federal Reserve interest…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishHotter-than-expected US inflation shifts rate expectations and weighs on gold, a major macro driver.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Gold rose 0.2% to $4,039.07 per ounce in early Asian trade.
- 02It fell nearly 3% in the previous session on US inflation data.
- 03Traders now price a 100% chance of a rate hike in December.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets