Gold prices fell on Monday as investors prepared for January consumer price index data in the United States that could move the Federal Reserve’s interest rate strategy.<\/p>\n\n\n\n
Spot gold fell 0.5 percent to $1,854.79 an ounce by 1842 GMT, while US gold futures fell 0.6 percent, to settle at $1,863.50.<\/p>\n\n\n\n
Gold is considered a hedge against inflation, but the cost of holding it rises when interest rates are raised to curb inflation.<\/p>\n\n\n\n
All eyes are on US CPI data due on Tuesday, which is expected to have risen 0.4% in January.<\/p>\n\n\n\n
The dollar index fell 0.3 percent, while the standard ten-year Treasury bond yields fell after hitting their highest levels since early January during the session, which relieved pressure on gold prices.<\/p>\n\n\n\n
As for other precious metals, spot silver fell 0.4 percent to $21.91 an ounce, and platinum rose 1 percent to $954.32.<\/p>\n\n\n\n
Palladium rose 1.8% to $1,569.53, after falling close to a three-year low earlier in the session.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices fell on Monday as investors prepared for January consumer price index data in the United States that could move the Federal Reserve’s interest rate strategy. Spot gold fell 0.5 percent to $1,854.79 an ounce by 1842 GMT, while US gold futures fell 0.6 percent, to settle at $1,863.50. Gold is considered a hedge …<\/p>\n","protected":false},"author":9,"featured_media":72288,"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":[38,37,36],"tags":[6978,6885,7603,8444,8496],"class_list":["post-79942","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-cpi","tag-fed","tag-gold-prices","tag-hawkish-language","tag-tightening-monetary-policy"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79942","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=79942"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79942\/revisions"}],"predecessor-version":[{"id":79943,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/79942\/revisions\/79943"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/72288"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=79942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=79942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=79942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}