Gold prices steady with spotlight on US inflation print
July 10 (Reuters) -Gold prices held steady on Wednesday, with investors looking towards key U.S. inflation data that could shed more light on the Federal Reserve's interest rates trajectory.
FUNDAMENTALS
* Spot gold XAU= was little changed at $2,365.09 per ounce, as of 0040 GMT. U.S. gold futures GCcv1 rose 0.2% to $2,372.60.
* Fed Chair Jerome Powell said in remarks to Congress that inflation had been improving in recent months and that "more good data would strengthen" the case for looser monetary policy. However, he told lawmakers that he did not want "to be sending any signals about the timing of any future actions" on rates.
* Traders currently see a 73% chance of a rate cut in September, according to the CME Group's FedWatch Tool. Non-yielding bullion's appeal tends to shine when interest rates are lower.
* Market focus is now on the consumer price index (CPI) data due on Thursday. It is expected to show that headline prices rose 0.1% on the month, while core prices gained 0.2%. That would put annual gains at 3.1% and 3.4%, respectively
* Data on Tuesday showed that U.S. small-business confidence increased to a six-month high in June, but inflation worries lingered.
* Global physically backed gold exchange traded funds (ETFs) saw the second consecutive month of inflows in June due to additions to holdings by Europe- and Asia-listed funds, the World Gold Council (WGC) said on Tuesday.
* Spot silver XAG= fell 0.1% to $30.77, platinum XPT= ticked up 0.3% to $986.80 and palladium XPD= was flat at $980.49.
* The Guangzhou Futures Exchange said on Tuesday it plans to launch its first platinum and palladium futures contracts in China, the world's second-largest economy, to offer a domestic price-hedging mechanism.
DATA/EVENTS (GMT)
0130 China PPI, CPI YY June
Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Rashmi Aich
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。
