Gold Settled as Market Awaits The US Inflation Data

Gold prices stabilized on Tuesday, April 13th, as participants in market operations continued to refrain from trading ahead of the release of inflation data in the United States, which is expected to shed more light on the recovery in the world’s largest economies.

Gold was little changed in spot transactions at $1731.69 an ounce, while the rise in US Treasury bonds yields support coming from expectations of rising inflation. US gold futures also settled at $1732.80 an ounce.

A survey published by the Federal Reserve in New York concluded that US consumer inflation expectations rose again in March after gradual increases in recent months and that they became more positive about the labor market.

And putting pressure on gold, the yields of US Treasury bonds rose, which increases the opportunity cost of acquiring the metal that does not yield a return.

As for the other precious metals, silver stabilized at $24.83 an ounce, while palladium rose 0.2% to $2680.20 an ounce, and platinum fell 0.2% to $1168.13.