Gold futures fell near the $2,160 level today. After the release of higher than expected inflation figures This will be a factor that supports the United States Federal Reserve (Fed) to maintain interest rates at a high level for a longer period than expected.
At 11:06 pm Thai time, gold contracts on the COMEX (Commodity Exchange) market will be introduced in April. less $18.80 or 0.86% to $2,161.70/oz.
In addition, gold prices have been put under pressure by the strengthening of the dollar. and the rebound in US government bond yields. After revealing the inflation figures
A stronger dollar reduces the attractiveness of gold. By making gold contracts more expensive for holders of other currencies Meanwhile, a rebound in US government bond yields will increase the opportunity cost of holding gold. This is because gold is an asset that has no interest income.
The US Department of Labor releases the Producer Price Index (PPI), a measure of producer spending inflation. February today
Headline PPI, which includes food and energy categories, rose 1.6% in February year on year. Above analysts’ expectations of 1.1% from 1.0% in January.
On a monthly basis, headline PPI rose 0.6% in February, above analysts’ expectations of 0.3% from 0.3% in January.
The Core PPI index, which excludes food and energy, increased 2.0% in February year on year. Above analysts’ expectations of 1.9% from 2.0% in January.
On a monthly basis, the core PPI rose 0.3% in February, above analysts’ expectations of 0.2% from 0.5% in January.
#Gold #futures #prices #plunged #close #dropping #RYT9
