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☆ Gold retreats as dampened Fed rate cut hopes dent appeal
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices slipped on Monday as hopes for early interest rate cuts this year dampened, while focus shifted to the Federal Reserve policy meeting and U.S. non-farm payrolls data due this week for further clarity on monetary policy. "Short term, gold is facing some challenges given the likely delayed timeline for rate cuts. The Federal Reserve's policy meeting from April 30-May 1 and the non-farm payrolls data due on Friday are key for markets this week. The Fed is seen holding its benchmark interest rate steady at 5.25%-to-5.5% at this meeting.

Persons: Tim Waterer, Jerome Powell, Waterer Organizations: Federal Reserve, KCM Trade, Investors, People's Bank of, Citi Locations: Mendrisio, Switzerland, People's Bank of China

☆ Gold prices slip to 2-1/2-week low as Middle East tensions ease
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: +2 min

Pure 1,000-gram gold bars produced by South Korea's LS-Nikko are stacked in a dealers room in Seoul on Jan. 9, 2009. Spot gold was down nearly 1% at $2,304.99 per ounce, as of 0336 GMT. U.S. gold futures fell 1.2% to $2,318.80. "Investors are seeing this as an opportunity to lock in some profits after gold's recent run of good form," Waterer said. Among other precious metals, spot silver fell about 1% to $26.92 per ounce, spot platinum dropped 0.7% to $911.10, and palladium slumped 1.1% to $997.75.

Persons: Tim Waterer, Waterer, Gold Organizations: South Korea's, Nikko, KCM Locations: Seoul, Iran

☆ Gold hovers near record high with focus on U.S. data, Fed minutes
▼ + stars: | 2024-04-09 | by ( ) www.cnbc.com time to read: +2 min

One kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Spot gold was up 0.3% at $2,345.09 per ounce, as of 0621 GMT, after hitting a record high of $2,353.79 on Monday. The minutes of the Fed's March policy meeting and the U.S. Consumer Price Index, or CPI, data are due on Wednesday. "Inflation data this week poses a risk if the readings come out on the hotter side of the ledger. Spot silver rose 0.2% to $27.90 per ounce, after hitting its highest levels since June 2021 earlier in the session.

Persons: Tim Waterer, Waterer, Kelvin Wong Organizations: Co, Federal, KCM Trade, U.S . Consumer, Fed, Asia Pacific, OANDA Locations: Bangkok, Thailand, ., U.S

☆ Gold hovers below record peak as U.S. dollar, yields firm after upbeat data
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: +2 min

Gold prices on Tuesday hovered below record highs hit in the previous session, as the U.S. dollar and Treasury yields held firm after strong U.S. data flagged doubts on whether the Federal Reserve would deliver three interest rate cuts this year. Spot gold was unchanged at $2,250.79 per ounce, as of 0415 GMT, holding below an all-time high of $2,265.49 hit on Monday. "Gold notched up a new record price, though with that high watermark also came some overbought conditions, which has resulted in a mild pullback. Traders pared bets of a June interest rate cut to 63% after the data, according to the CME Group's FedWatch Tool. Gold tends to gain when interest rates are cut as it reduces the opportunity cost of holding bullion.

Persons: Tim Waterer, Jerome Powell, Waterer Organizations: U.S ., Treasury, Federal Reserve, KCM Trade, U.S Locations: .

☆ Gold rises on hopes for Fed rate cut in June, softer dollar
▼ + stars: | 2024-03-25 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices rose on Monday as renewed bets that the U.S. Federal Reserve would begin cutting interest rates in June and a softer dollar lifted bullion's appeal. The dollar was down 0.1% against its rivals, making gold less expensive for other currency holders. Looks like June is being the most probable time when they are sort of expected to pull the trigger on that first rate cut." Lower interest rates reduce the opportunity cost of holding bullion.

Persons: Tim Waterer Organizations: Co, U.S . Federal Reserve, KCM, Traders, Fed Locations: Bangkok, Thailand

☆ Gold holds ground as investors seek direction from Fed
▼ + stars: | 2024-03-19 | by ( ) www.cnbc.com time to read: +2 min

An employee arranges one kilogram gold bars for a photograph in Bangkok, Thailand, on Jan. 13, 2016. Gold held steady on Tuesday as investors stayed on the sidelines ahead of the U.S. Federal Reserve policy meeting this week, which could offer further clues on the timing of likely interest rate cuts this year. With the Fed widely expected to hold rates steady at the end of its two-day monetary policy meeting on Wednesday, the market is awaiting policymakers' updated economic and interest rate projections. Gold prices fell 1% last week after data showed that U.S. consumer prices increased solidly in February and producer prices rose more than expected, reducing hopes around early Fed rate cuts. Traders are currently pricing in an about 51% chance of a Fed rate cut in June, compared with 56% on Monday, according to the CME FedWatch Tool.

Persons: Gold, Jerome Powell, Tim Waterer Organizations: U.S . Federal Reserve, Fed, KCM, PPI, Traders Locations: Bangkok, Thailand, Japan, England, Australia, Norway, Switzerland, Mexico, Taiwan, Brazil, Indonesia

TOKYO (AP) — Asian shares mostly rose Wednesday, encouraged by a record rally on Wall Street that was led by technology companies. Speculation is rife that Japan's central bank is getting ready to end its super-easy monetary policy, which has set interest rates below zero, and start raising rates. Photos You Should See View All 60 ImagesOn Wall Street, the S&P 500 jumped 1.1% to top its all-time high set last week. The worse-than-expected data kept the door closed for long-sought cuts to interest rates at the Federal Reserve meeting next week. On Wall Street, big technology stocks did heavy lifting.

Persons: Australia's, Korea's Kospi, ”, Tim Waterer, Brian Jacobsen, Chris Larkin, Morgan Stanley, ” Larkin, “, Dow, Brent Organizations: TOKYO, Nikkei, Bank of, KCM, U.S, Dow Jones, Nasdaq, Federal Reserve, Annex Wealth Management, Fed, Treasury, Oracle, Nvidia Locations: Hong, Shanghai, Wall

☆ Gold retreats from near record-high levels ahead of U.S. inflation data
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: +2 min

Gold prices slipped from near record-high levels on Tuesday, as traders braced for key U.S. inflation report that could give more clarity on when the Federal Reserve might start cutting its interest rates. Spot gold fell 0.2% to $2,178.53 per ounce, as of 0424 GMT, after rising for nine consecutive sessions. "Following the stellar run-up in gold prices, it does call for some near-term breather," IG market strategist Yeap Jun Rong said. Another surprise run of hotter-than-expected inflation data for February will likely challenge that, which could drive some near-term unwinding in gold prices." Traders are pricing in three to four quarter-point (25 bps) U.S. rate cuts, with a 70% chance for the first in June, as per LSEG's interest rate probability app.

Persons: Bullion, Yeap Jun Rong, there's, Tim Waterer Organizations: Co, Federal Reserve, Traders, U.S . Treasury, KCM Trade Locations: Bangkok, Thailand, U.S

☆ Gold off two-week highs as U.S. dollar ticks higher
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: +2 min

Gold prices inched lower on Monday pressured by a gaining U.S. dollar, but bullion's losses were cushioned as growing tensions in the Middle East supported the safe-haven near last session's over two-week highs. Gold prices inched lower on Monday pressured by a gaining U.S. dollar, but bullion's losses were cushioned as growing tensions in the Middle East supported the safe-haven near last session's over two-week highs. "Gold has exhibited some mild easing to kick-off the new week mostly due to the dollar ticking higher. Last week, Fed Governor Christopher Waller said he was in "no rush" to cut rates, firming investor bets against U.S. interest rate cuts before June. Markets are currently pricing in a 68% chance of a Fed rate cut in June, according to the CME Fed Watch Tool.

Persons: Tim Waterer, Waterer, Christopher Waller, Silver Organizations: U.S, East, KCM, CME Locations: U.S

☆ Gold flat ahead of US inflation data
▼ + stars: | 2024-02-13 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were little changed on Tuesday, as investors held back from making big bets ahead of a U.S. inflation report that could give fresh perspective on the timing of the Federal Reserve's first rate cut. Spot gold was flat at $2,018.71 per ounce, as of 0424 GMT, after briefly slipping to a more than two-week low of $2,011.72/Oz on Monday. All eyes are on the January U.S. consumer price index inflation data due at 13:30 GMT. Americans reported a fairly stable outlook for inflation at the start of the year, a New York Fed survey showed. Spot platinum was flat at $888.89 per ounce, palladium rose 1.5% to $905.71, and silver edged 0.1% higher to $22.71.

Persons: Tim Waterer, Wang Tao Organizations: Federal, KCM Trade, New, Fed, Reuters, U.S ., Traders, U.S Locations: Moscow, Russia, U.S, ., China, Hong Kong

☆ Gold steady as Fed remarks counter safe-haven demand
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: +2 min

Gold prices steadied on Thursday as a pushback from U.S. Federal Reserve officials on market hopes for early interest rate cuts offset safe-haven demand after Israel rejected a ceasefire offer from Hamas amid continuous talks to end the Gaza conflict. Gold prices steadied on Thursday as a pushback from U.S. Federal Reserve officials on market hopes for early interest rate cuts offset safe-haven demand after Israel rejected a ceasefire offer from Hamas amid continuous talks to end the Gaza conflict. Spot gold held its ground at $2,033.56 per ounce, as of 0427 GMT. Fed officials want to hold off on cutting interest rates until they have more confidence that inflation is headed down to 2%. Gold, considered a safe-haven investment, tends to gain during times of political and economical uncertainty.

Persons: Tim Waterer, Moody's, Waterer Organizations: U.S . Federal, Israel, KCM, U.S, Community Bancorp Locations: U.S, Gaza, New, Germany, China

☆ Safe-haven gold gains as Middle East worries mount
▼ + stars: | 2024-01-29 | by ( ) www.cnbc.com time to read: +2 min

Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea, on Friday, Oct. 13, 2023. Gold prices rose on Monday as escalating tensions in the Middle East lifted bullion's safe-haven appeal, while moves were limited as traders awaited the U.S. Federal Reserve chair Jerome Powell's remarks this week for cues on interest rate trajectory. There is enough instability still in the Middle East to keep investors interested in gold as part of a safe-haven play, said Tim Waterer, chief market analyst at KCM Trade. Traders are betting on six quarter-point rate cuts for 2024 in the U.S., up from five cuts a week ago, according to LSEG's interest rate probability app IRPR. Lower interest rates decrease the opportunity cost of holding bullion.

Persons: Jerome Powell's, Tim Waterer, Evergrande, Waterer, Powell Organizations: Korea Gold Exchange, U.S . Federal, KCM Trade, Investors, U.S, Fed, Traders Locations: Seoul, South Korea, U.S, Jordan, Syrian

☆ Gold extends slide as dollar firms on hawkish Fedspeak
▼ + stars: | 2024-01-17 | by ( ) www.cnbc.com time to read: +2 min

Gold prices extended losses on Wednesday as the U.S. dollar strengthened after hawkish comments from a Federal Reserve official dampened expectations for a March interest rate cut, while traders awaited comments from more Fed speakers this week. Spot gold was down 0.2% at $2,023.49 per ounce, as of 0415 GMT, after stooping 1.3% in the previous session - its biggest single-day decline since Dec. 4, 2023. Flow of funds to the U.S. dollar have been a key driver impacting the gold price, said Michael Langford, chief investment officer at Scorpion Minerals Ltd, forecasting bullion to trade around $2,000/Oz in the near term. With geopolitical tensions escalating, safe-haven flows could provide a floor for the gold price. However, "the short-term fate of the gold price is likely in the hands of the bond market," Tim Waterer, chief market analyst at KCM Trade, wrote in a note.

Persons: Michael Langford, Christopher Waller, Tim Waterer Organizations: U.S ., Federal Reserve, Scorpion Minerals Ltd, Treasury, KCM, U.S Locations: U.S

☆ Gold prices sprint to all-time peak on Fed rate-cut bets
▼ + stars: | 2023-12-04 | by ( ) www.cnbc.com time to read: +2 min

Gold and silver bars of various sizes lie in a safe on a table at the precious metals dealer Pro Aurum. Gold prices bolted to an all-time high above $2,100 per ounce on Monday as Federal Reserve Chair Jerome Powell's remarks elevated traders' confidence that the U.S. central bank could cut interest rates early next year. Lower interest rates reduce the opportunity cost of holding a non-interest-bearing bullion. Investor focus now shift to U.S. non-farm payrolls data — a key employment report due on Friday, that could influence the outlook for U.S. interest rates. Spot silver rose 0.1% to $25.45 per ounce, palladium fell 0.4% to $929.93 per ounce, and platinum was down 0.1% at $999.35.

Persons: Jerome Powell's, Powell, we're, Tim Waterer, Waterer, CME's, Christopher Waller Organizations: Aurum, KCM Trade, Traders, U.S, Fed Locations: U.S

☆ Gold steadies; poised for second weekly gain on weaker dollar
▼ + stars: | 2023-11-24 | by ( Brijesh Patel | ) www.reuters.com time to read: +2 min

REUTERS/Alexander Manzyuk/File Photo Acquire Licensing RightsSummaryCompanies Gold up 0.7% so far this weekPlatinum eyes second weekly gainDollar heads for second weekly fallNov 24 (Reuters) - Gold held steady on Friday, set for its second consecutive weekly gain, supported by a weaker U.S. dollar as markets grew confident that the Federal Reserve was done with its interest rate hikes. The dollar index (.DXY) slipped 0.2% against its rivals and was on track for a second weekly drop, making gold less expensive for other currency holders. Earlier this week, the Fed minutes showed the central bank would proceed "carefully" and "all participants judged it appropriate to maintain" the current rate setting. "There is that disconnect between market expectations for rates and what the Fed minutes showed and that's what's causing some hesitation in the price of gold," Waterer said. Platinum was flat at $915.57, but was heading for its second weekly rise.

Persons: Alexander Manzyuk, Tim Waterer, CME's, Waterer, Brijesh Patel, Sherry Jacob, Phillips, Rashmi Organizations: REUTERS, Federal, KCM Trade, Thomson Locations: Novosibirsk, Siberian, Russia, U.S, Bengaluru

☆ Gold poised for second weekly gain as Fed pause hopes hurt dollar
▼ + stars: | 2023-11-24 | by ( ) www.cnbc.com time to read: +2 min

REUTERS/Alexander ManzyukGold held steady on Friday, set for its second consecutive weekly gain, supported by a weaker U.S. dollar as markets grew confident that the Federal Reserve was done with its interest rate hikes. The dollar index was on track for a second weekly drop, making gold less expensive for other currency holders. Markets have dialed back expectations of Fed rate cuts in 2024 after data showed number of Americans filing new claims for unemployment benefits fell more than expected last week. Earlier this week, the Fed minutes showed the central bank would proceed "carefully" and "all participants judged it appropriate to maintain" the current rate setting. Platinum eased 0.1% to $914.68, but was heading for its second weekly rise.

Persons: Alexander Manzyuk Gold, Tim Waterer, CME's, Waterer, Wang Tao Organizations: REUTERS, Federal, KCM Trade Locations: Siberian, Krasnoyarsk, Russia, U.S

☆ Pilots at Qantas' unit halt planned two-day strike ahead of further talks
▼ + stars: | 2023-10-31 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +2 min

AFAP on Friday said that Network Aviation pilots will stop work on Wednesday and Thursday in a bid to negotiate wages. Australia's industrial relations tribunal, the Fair Works Commission (FWC), presided over a series of talks between pilots and the airline on Monday. AFAP members – who make up 90% of the pilot group at Network Aviation – won't be engaging in protected action until next week's bargaining sessions are completed, the pilots' union said. Meanwhile, Qantas expressed disappointment over the union choosing to "cause disruption and uncertainty" by threatening the strike, a few days before a meeting with the FWC. The airline will continue to work with the FWC over coming weeks to seek a resolution, it added.

Persons: Loren Elliott, AFAP, –, Tim Waterer, FWC, Rishav Chatterjee, Ayushman Ojha, Mrigank Dhaniwala Organizations: Qantas, Kingsford Smith International Airport, REUTERS, Pilots, Network Aviation, Qantas Airways, Australian Federation of Pilots, Qantas Group, Fair Works Commission, Thomson Locations: Sydney, Australia, Bengaluru

☆ Qantas scraps plan to buy Alliance Aviation amid regulatory hurdle
▼ + stars: | 2023-10-18 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +2 min

Qantas Airways QF100 flight, which marks the airline's 100th birthday, departs from Sydney Airport to fly over Sydney Harbour in Australia, November 16, 2020. Qantas shares fell 2.7% to A$4.7 in early trade, whereas Alliance shed around 1%. He added that Qantas is dealing with a brand crisis, a part of which is tied to perceptions that the company acts anti-competitively. Qantas is not the only airline that is aiming to expand charter service offerings with smaller peer Regional Express Holdings (REX.AX) buying charter operator National Jet Express in July 2022. ($1 = 1.5785 Australian dollars)Reporting by Rishav Chatterjee in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Gregg Porteous, Tim Waterer, Kyle Rodda, Rishav Chatterjee, Shailesh Organizations: Qantas Airways QF100, Sydney Airport, Sydney Harbour, Handout, REUTERS, Qantas, Qantas Airways, Aviation Services, Australian Competition, Consumer Commission, Alliance, KCM Trade, Capital.com, Regional Express Holdings, National Jet Express, Thomson Locations: Australia, Bengaluru

☆ Australia's CSL tanks as Novo Nordisk's kidney trial success stokes competition concerns
▼ + stars: | 2023-10-12 | by ( Archishma Iyer | ) www.reuters.com time to read: +1 min

Oct 12 (Reuters) - Shares of biotechnology firm CSL (CSL.AX) fell to a four-year low on Thursday, after rival Novo Nordisk's (NOVOb.CO) Ozempic drug showed early signs of success in delaying the progression of kidney disease in diabetes patients. Shares of CSL closed 5.7% lower at A$239.77, their lowest since Oct. 10, 2019, after falling 6.7% earlier in the session. The stock also marked its worst intraday session in four months and was the top loser on the benchmark. CSL's Vifor segment, which includes therapies for kidney diseases and iron deficiencies, faces concerns of competition in the segment after Ozempic's early trial success, analysts said. Reporting by Archishma Iyer in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Novo, Shane Ponraj, Morningstar, Tim Waterer, Archishma Iyer, Varun Organizations: CSL, Novo Nordisk's, CSL Vifor, Novo Nordisk, KCM Trade, Sonic Healthcare, Thomson Locations: Danish, Bengaluru

☆ Futures rise as Treasury yields take a breather; eyes on inflation data
▼ + stars: | 2023-09-29 | by ( Ankika Biswas | Shashwat Chauhan | ) www.reuters.com time to read: +3 min

(Reuters) - U.S. stock index futures advanced on Friday as Treasury yields eased from multi-year highs and powered gains in growth stocks, while investors awaited a crucial inflation metric to assess the outlook for the Federal Reserve’s monetary policy. REUTERS/Brendan McDermid/File PhotoApple, Microsoft, Tesla, Alphabet, Amazon.com and Nvidia advanced between 0.7% and 1.5% in premarket trading as two-year and 10-year Treasury yields declined. “A move lower in bond yields has given equity markets a much-needed reprieve,” said Tim Waterer, chief market analyst at KCM Trade. With fears of high oil prices fueling inflation, investors are awaiting the U.S. central bank’s preferred inflation metric, the personal consumption expenditures (PCE) price index, which is seen increasing 0.5% in August against a 0.2% gain in July. The core rate, which excludes the volatile food and energy components, is expected to have increased 0.2% in August, similar to July’s reading.

Persons: Brendan McDermid, ”, Tim Waterer, ” Waterer, Thomas Barkin Organizations: Reuters, Federal, New York Stock Exchange, REUTERS, Microsoft, Nvidia, KCM Trade, Traders, Dow e, Nasdaq, Federal Reserve Bank of Richmond, Democratic, Dow, Nike Locations: New York City, U.S, Riding

☆ Gold prices dip as Fed ratchets up tightening bias
▼ + stars: | 2023-09-21 | by ( ) www.cnbc.com time to read: +2 min

A worker handles an Argor-Heraeus SA one kilogram gold bar at Solar Capital Gold Zrt. Bullion on Wednesday hit its highest since Sept. 1 before the U.S. Fed revised its economic projections with higher-for-longer rate warnings. "In the aftermath of the FOMC event, there have been some market jitters given the interest rate outlook. "The precious metal will probably need to rely on some slowing momentum in Treasury yields in order to post gains of any significance to the upside." Higher interest rates discourage the buying of non-interest-paying bullion, which is priced in dollars.

Persons: Tim Waterer Organizations: Heraeus SA, Solar, U.S ., Federal Reserve, U.S, Fed, KCM Trade, NAB Commodities Research, Bank of Locations: Budapest, Hungary

☆ Gold prices edge up ahead of likely Fed rate pause
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: +2 min

Bars of gold are seen at Krastsvetmet, one of the world's largest producers of precious metals, in Moscow, January 31, 2023. Gold prices edged higher on Monday as investors priced in a pause in interest rate hikes by the Federal Reserve at its policy meeting this week, with a focus on the U.S. central bank's rate outlook. Asian shares fell, making gold more attractive for investors ahead of policy decisions by the Fed on Wednesday, Bank of England on Thursday and the Bank of Japan on Friday. Gold, which offers no yield, tends to fall out of favor among investors when interest rates rise. Chinese gold prices hit record highs last week, extending a months-long rally as consumers snap up the safe-haven asset to offset a depreciating yuan.

Persons: Tim Waterer, won't Organizations: Federal Reserve, U.S, Fed, Bank of England, Bank of Japan, KCM Trade, Securities Locations: Moscow

The National Australia Bank Logo is seen on a branch in central Sydney, Australia, February 8, 2018. REUTERS/Daniel Munoz/File Photo Acquire Licensing RightsSept 14 (Reuters) - National Australia Bank (NAB) (NAB.AX) said on Thursday it would shut its Hong Kong branch, as offices in Singapore, Tokyo and Shanghai were its preferred customer outreach hubs in Asia. The move is likely to impact about 50 roles in the Hong Kong, however, the lender said in a statement that its "too early" to confirm the impact of the branch closing. "The decision probably reflects that foreign businesses are not finding operating conditions in Hong Kong as conducive as they once were," said Tim Waterer, chief market analyst at KCM Trade. The office shutdown comes after Finance Sector Union said earlier this month that the bank was planning to cut 222 back-office jobs.

Persons: Daniel Munoz, Tim Waterer, NAB's, Navya Mittal, Subhranshu Sahu, Rashmi Organizations: National, REUTERS, National Australia Bank, NAB, KCM, Westpac, Finance Sector Union, Thomson Locations: Sydney, Australia, Hong Kong, Singapore, Tokyo, Shanghai, Asia, Bengaluru

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. REUTERS/Mike Segar/File Photo Acquire Licensing RightsSummaryCompanies Spirit Airlines slips on revenue outlook cutFord rises on plans to double production of pickup trucksConsumer prices data due at 8:30 a.m. ETFutures down: Dow 0.12%, S&P 0.12%, Nasdaq 0.15%Sept 13 (Reuters) - U.S. stock index futures inched lower on Wednesday as higher oil prices fuel worries about sticky inflation and stoke interest-rate concerns ahead of CPI data. "All indications are that higher oil costs are going to influence the headline inflation print. Investors will also closely monitor August producer prices and retail sales data on Thursday ahead of the Fed's Sept. 20 policy decision.

Persons: Mike Segar, Tim Waterer, Li Auto, Ankika Biswas, Shristi, Shubham Batra, Savio D'Souza, Vinay Dwivedi Organizations: Wall, New York Stock Exchange, REUTERS, Spirit Airlines, Dow, Nasdaq, stoke, Labor, KCM, Federal Reserve, Dow e, Apple, Li, European Commission, Sprit Airlines, Moderna, Thomson Locations: Manhattan, New York City , New York, U.S, Xpeng, Bengaluru

☆ Gold gains as U.S. inflation data takes center stage this week
▼ + stars: | 2023-09-11 | by ( ) www.cnbc.com time to read: +1 min

Gold prices rose on Monday, supported by a retreat in the dollar as investors looked forward to U.S. inflation data that could define the Federal Reserve's moves on interest rates. Spot gold gained 0.3% to $1,922.89 per ounce by 0313 GMT, having lost 1% in the previous week. Gold had found support around its 200-day moving average, an important technical level not easy to crack, he said, adding that if U.S. inflation undershoots that could weigh further on the U.S. dollar. Spot gold may retest a resistance at $1,930 per ounce, according to Reuters technical analyst Wang Tao. The U.S. Consumer Price Index data for August due on Wednesday is expected to shape the Fed's interest rate decisions this year.

Persons: Matt Simpson, Gold, Wang Tao, Tim Waterer Organizations: U.S ., The U.S ., U.S, Consumer Locations: The

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