Gold price is expected to finish the week with around 1.60% loss, below the $1850 level. Gold spot price tumbled for the third day, down almost 0.65% after US economic data throughout the week, turning market sentiment sour on speculations that further Fed tightening is looming. At the time of writing, the Gold Index is trading at $1834.50.
US equities are trading with losses on risk aversion. Economic data revealed earlier this week witnessed inflationary pressures in the United States (US) uptick.
Although the US Consumer Price Index for January came short compared to the previous month\u2019s readings, data exceeded forecasts. Standing in the inflationary theme, last Thursday\u2019s PPI data jumped in the monthly readings in the headline and core PPI. Given the backdrop, the US Federal Reserve\u2019s (Fed) job on inflation is not done, as mentioned by Fed officials on Thursday, Cleveland\u2019s Fed President Loretta Mester and St. Louis Fed James Bullard crossed newswires.
Additional data pointed to a robust economy in the US, as Retail Sales surprisingly jumped 3.0%, vs. estimates of 1.8%, following two months of contraction. The US Bureau of Labor Statistics (BLS) revealed that Initial Jobless Claims for the week ending February 11 increased by 194K, below the prior\u2019s week 196K and well short of the 200K foreseen by economists.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold price is expected to finish the week with around 1.60% loss, below the $1850 level. Gold spot price tumbled for the third day, down almost 0.65% after US economic data throughout the week, turning market sentiment sour on speculations that further Fed tightening is looming. At the time of writing, the Gold Index is …<\/p>\n","protected":false},"author":13,"featured_media":61843,"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":[6885,6874,6984],"class_list":["post-80164","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fed","tag-gold","tag-treasury-yields"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80164","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\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=80164"}],"version-history":[{"count":4,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80164\/revisions"}],"predecessor-version":[{"id":80201,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80164\/revisions\/80201"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61843"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=80164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=80164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=80164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}