Gold Looking For Direction Before The ECB Meeting And US Data

Gold moved within a narrow range during trading Wednesday, June 9, as investors awaited more data on US inflation and indicators on monetary policy from the European Central Bank, while weaker Treasury yields provided some support for the yellow metal.

The benchmark 10-year US Treasury yields are hovering near the lowest level in more than a month while the dollar index is flat.

And gold in the spot market rose 0.1% to $ 1893.80 an ounce, and gold in futures trading in the United States rose 0.1% to $ 1896.60.

Tomorrow Thursday, traders will closely follow the European Central Bank meeting and the CPI report in the United States to know the direction of the Federal Reserve regarding monetary policy.

As for other precious metals, silver settled at $27.64 an ounce, palladium fell 0.1% to $2803.13, while platinum fell 0.1% to $1160.08.