← Back

Gold floated around $2,000 as focus is squared on CPI figures

11 Apr,2023
Gold floated around $2,000 as focus is squared on CPI figures

On Tuesday, gold prices remained relatively stable, floating slightly below recent highs, as markets anticipated additional economic clues from inflation data and the Federal Reserve's March meeting minutes, which are expected later this week.

Yellow metal prices had fallen from a more than month-high after U.S. nonfarm payrolls data revealed continued resilience in the jobs market in March, but they were still supported by safe haven demand as sentiment remained low amid fears of slowing economic growth and uncertainty over monetary policy.

Investors are now anticipating the release of consumer price index inflation figures on Wednesday to see whether the Federal Reserve is still motivated to keep rising interest rates, which would be bad news for the gold market.

Spot gold edged up by 0.1% to $1,993.94 per ounce, while gold futures climbe by rose 0.3% to $2,008.95 per ounce.

Speaking of the industrial metals, copper futures jumped 0.2% to $3.9950 per pound.

 

Register now to receive daily update about market:

ATFX is a world-leading CFD broker in online trading into global markets. ATFX offers over 500 CFD instruments for global investors to trade. By putting the safety of all our global investors’ funds as a top priority and providing an efficient, safe experience of deposits and withdrawals ...

Learn More

v