Gold at near two-month peak as Fed rate-cut hopes lend support
Palladium down more than 2%
U.S. retail sales data due later this week
Traders price in Fed rate cut in Sept
Updates milestone, prices and adds details
By Rahul Paswan
July 15 (Reuters) - Gold prices climbed to a near two-month high on Monday,aided by hopes for interest rate cuts from the Federal Reserve as traders await for more comments from Fed officials to gauge the timing of those cuts.
Spot gold XAU= rose 0.4% to $2,421.25 per ounce as of 2:00 p.m. ET (1800 GMT), hitting its highest level since May 20 when it hit a record high of $2,449.89 per ounce.
U.S. gold futures GCcv1 settled 0.3% higher at $2,428.9.
"The path for both gold and silver prices is going to continue to be sideways to higher and I would not be surprised to see a new record high here in the coming weeks or even sooner," said Jim Wyckoff, senior market analyst at Kitco Metals.
Fed Chair Jerome Powell said the three inflation readings over the second quarter of this year showed "more progress" was being made on bringing the pace of price increases back to the Fed's target.
According to the CME FedWatch Tool, markets now see a 100%chance of a U.S. rate cut in September. Non-yielding bullion's appeal tends to shine in a low-interest-rate environment.
Meanwhile, long-dated U.S. bond yields rose, as investors weighed whether the assassination attempt on U.S. presidential candidate Donald Trump increased his chances of victory. MKTS/GLOB
"Risks are just kind of balanced on each side and I think that (gold is) going to probably trend sideways for that reason," said Everett Millman, chief market analyst with Gainesville Coins.
Focus this week will be on U.S. retail sales, industrial output for June and weekly jobless claims data that could offer more cues on the strength of the world's largest economy.
Eleswhere, spot silver XAG= fell 0.4% to $30.7 per ounce, platinum XPT= was steady at $998 and palladium XPD= dropped 2.1% to $948.70.
Spot gold price in USD per oz https://reut.rs/3W1kLxn
Reporting by Rahul Paswan and Anushree Mukherjee in Bengaluru; Editing by Vijay Kishore and Maju Samuel
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
