Gold fell on Wednesday from a one-month high hit in the previous session. Yet, prices remained in a relatively narrow range, as investors remain cautious in anticipation of US inflation data due this week.<\/p>\n\n\n\n
Spot gold fell 0.2 percent to $1,709.60 an ounce by 0644 GMT. US gold futures fell 0.2 percent to $1,712.30.<\/p>\n\n\n\n
Gold prices jumped more than 2% on Tuesday to surpass the important $1,700 level, benefiting from weaker dollar and bond yields and technical buying.<\/p>\n\n\n\n
The dollar index rose 0.1 percent, making gold more expensive for buyers abroad. US bond yields also rose in Asian trading.<\/p>\n\n\n\n
Investors remain focused on the US CPI report due on Thursday. The data is likely to indicate the prospects for a rate hike by the Federal Reserve.<\/p>\n\n\n\n
Wall Street economists expect a slowdown in both the monthly and annual core consumer price index to 0.5 percent and 6.5 percent, respectively, according to a Reuters poll.<\/p>\n\n\n\n
Traders now expect a 67 percent chance of a 50 basis point rate hike, compared to a 33 percent chance of a 75 basis point rate hike at the Fed’s December meeting.<\/p>\n\n\n\n
As for other precious metals, silver fell in spot transactions 0.2 percent to $21.29. Platinum rose 0.5% to $ 1002.76, while palladium fell 0.9 percent to $1,903.59.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold fell on Wednesday from a one-month high hit in the previous session. Yet, prices remained in a relatively narrow range, as investors remain cautious in anticipation of US inflation data due this week. Spot gold fell 0.2 percent to $1,709.60 an ounce by 0644 GMT. US gold futures fell 0.2 percent to $1,712.30. Gold …<\/p>\n","protected":false},"author":9,"featured_media":61547,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6874],"class_list":["post-75363","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-gold"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/75363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=75363"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/75363\/revisions"}],"predecessor-version":[{"id":75364,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/75363\/revisions\/75364"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61547"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=75363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=75363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=75363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}