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The Economic Times

Gold holds near one-week low as markets await US CPI release

AI Market Summary
Gold is holding near a one-week low as firmer expectations for additional Fed tightening, reinforced by a stronger U.S. PPI print, lift real-rate headwinds into today's U.S. CPI release. The ECB's renewed rate hikes add to the global tightening impulse, weighing across precious metals. Near-term pricing is likely to remain data-dependent, with CPI outcomes driving rates volatility and cross-asset risk positioning.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT+0.25%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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Stronger expectations for further U.S. rate hikes kept gold hovering near a one-week low as investors waited for upcoming U.S. CPI data. Spot gold was $4,318.88 an ounce, while December futures fell 1.1% to $4,359.50. The European Central Bank also raised rates to counter energy-driven inflation. Silver, platinum and palladium were broadly lower.
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