No! Gold Don't Fall Again
Gold remains at 8-month highInvestors await US producer inflation dataThe gold price rally stalled as the US dollar began to show gains on Tuesday.The Asian trading session saw the yellow metal slip slightly around $1,910 an ounce, but still at its strongest level since April 2022.Meanwhile, gold futures also declined with prices trading at $1,912 per ounce.The US dollar strengthened slightly in the Asian session with modest gains, but still remained trading around lows against major currencies.Investors continue to set expectations that the Fed will slow rate hikes to 25 basis points at a policy meeting in early February.The market is now awaiting the release of US producer inflation data on Wednesday for confirmation of whether price cuts are on track.
Gold remains at 8-month high
Investors await US producer inflation data
The gold price rally stalled as the US dollar began to show gains on Tuesday.
The Asian trading session saw the yellow metal slip slightly around $1,910 an ounce, but still at its strongest level since April 2022.
Meanwhile, gold futures also declined with prices trading at $1,912 per ounce.
The US dollar strengthened slightly in the Asian session with modest gains, but still remained trading around lows against major currencies.
Investors continue to set expectations that the Fed will slow rate hikes to 25 basis points at a policy meeting in early February.
The market is now awaiting the release of US producer inflation data on Wednesday for confirmation of whether price cuts are on track.