Gold falls on profit-taking, US inflation data awaited
Published: 03:08 PM,Aug 13,2024 | EDITED : 07:08 PM,Aug 13,2024
NEW YORK: Gold prices fell on Tuesday on profit-taking after the metal hit its highest level in more than a week, while market participants await key US inflation data that may provide further indications on the path of interest rates.
Spot gold fell 0.4 per cent to $2,462.19 per ounce, after hitting its highest level since August 2 earlier in the session. Prices rose more than one per cent in the previous session.
Meanwhile, US gold futures were little changed, settling at $2,502.40.
Traders are awaiting US producer price index data for July, which is due later on Tuesday, followed by consumer price index data on Wednesday, which is expected to show inflation and core inflation rising 0.2 per cent on a monthly basis.
As for other metals, silver fell in spot transactions by 1.2 per cent to $27.67 per ounce, platinum fell by 0.3 per cent to $933.96, while palladium lost 0.6 per cent to $914.25. — ONA
Spot gold fell 0.4 per cent to $2,462.19 per ounce, after hitting its highest level since August 2 earlier in the session. Prices rose more than one per cent in the previous session.
Meanwhile, US gold futures were little changed, settling at $2,502.40.
Traders are awaiting US producer price index data for July, which is due later on Tuesday, followed by consumer price index data on Wednesday, which is expected to show inflation and core inflation rising 0.2 per cent on a monthly basis.
As for other metals, silver fell in spot transactions by 1.2 per cent to $27.67 per ounce, platinum fell by 0.3 per cent to $933.96, while palladium lost 0.6 per cent to $914.25. — ONA