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Gold steadies as traders weigh elevated inflation, growth risks | |
admin | |
2021-10-12 | |
发布年 | 2021 |
语种 | 英语 |
国家 | 国际 |
领域 | 地球科学 |
正文(英文) | ![]() Image courtesy of Kurtis Garbutt, Flickr Commons.
Gold steadied as investors weighed concerns over inflation, fueled by a surge in energy and metal prices that threatens to derail the economic recovery. Focus will turn to the U.S. on Wednesday, where consumer price index data are expected to show price pressures remained elevated last month. And while minutes from the Federal Reserve’s September meeting are likely to signal an imminent scaling back of asset purchases, the latest miss on jobs data may complicate the timing of when tapering could start. [Click here for an interactive chart of gold prices] Meanwhile, Goldman Sachs Group Inc. economists have cut forecasts for U.S. growth this year and next, blaming a delayed recovery in consumer spending. That could mean the Fed takes its time to raise interest rates, according to Goldman’s chief economist Jan Hatzius. Delays in rate increases could benefit gold, as it doesn’t offer interest. “Inflation pressures are not going away anytime soon and that should keep Treasury yields rising, which is bad news for non-interest-bearing gold in the short-term,” said Edward Moya, a senior market analyst at Oanda Corp. “Investors may soon start to turn bullish on bullion once worries intensify that the 2022 global outlook will deteriorate even further.” Spot gold gained 0.2% to $1,757.60 an ounce at 12:12 p.m. in Singapore, after retreating 0.2% Monday. The Bloomberg Dollar Spot Index was little changed after rising 0.3% in the previous session. Silver and platinum steadied, while palladium fell 0.4% after advancing for three straight days. (By Ranjeetha Pakiam) |
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来源平台 | Minging.com |
文献类型 | 新闻 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/339127 |
专题 | 地球科学 |
推荐引用方式 GB/T 7714 | admin. Gold steadies as traders weigh elevated inflation, growth risks. 2021. |
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