Gold-rises-as-investors-wait-out-on-Fed-tapering

28.06.2021 - Davydova Maria
Gold-rises-as-investors-wait-out-on-Fed-tapering

Gold saw a rise in Asia Monday morning as investors mulled over the US Federal Reserve’s unclear directions on monetary policy tightening following the release of tame inflation data.

Gold futures crept up 0.18% to $1781.05 around 12:45 AM ET (4:45 AM GMT), after dropping to its lowest level since June 21st earlier in the Asian session.

Investors continue to weigh in on the inflation data released by the US the week before. The core personal consumption expenditures increased 0.5% month-on-month in May, slightly smaller than expected, while also growing 3.4% year-on-year. Gold prices also went up by as much as 0.8% after the release of the data, the preferred inflation measure of the central bank.

Investors are also keeping a close watch on negotiations for US President Joe Biden’s bipartisan US infrastructure deal, estimated to be at $1.2 trillion over eight years.

In other related news, silver held steady at $26.07 per ounce, while palladium edged up by 0.1% and platinum slid 0.7%.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?