Gold Prices Surge on Positive U.S. Consumer Data and Fed Pause,.

1 thg 9, 2023

Gold prices in Asian early trading have risen as U.S. consumer spending data for July matched expectations. The personal consumption expenditures price index saw a 0.2% increase in July, maintaining the same rate as in June. According to analysts at ANZ, these latest statistics bolster the possibility that the Federal Reserve might halt its monetary tightening measures. It's worth noting that interest rates typically move in the opposite direction of gold prices. Additionally, the downward revision of U.S. 2Q GDP figures has contributed to the anticipation of a pause by the Fed. Currently, spot gold is trading 0.1% higher at $1942.63 per ounce.

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1 thg 9, 2023

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1 thg 9, 2023

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1 thg 9, 2023

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Gold prices seemed poised to secure their second consecutive weekly increase on Friday, supported by reduced possibilities of U.S. interest rate hikes within the year. This outcome follows a week filled with significant data releases, culminating in the pivotal jobs report later in the day.

1 thg 9, 2023

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On Friday, the price of gold stabilized at approximately $1,940 per ounce and appeared poised to register its second consecutive weekly increase. This positive trend is underpinned by increasing expectations that the Federal Reserve has concluded its rate-hiking cycle, a sentiment fueled by indications that the U.S. economy might be showing signs of slowing down.