Gold steady as investors await key data

15 Mayıs 2024

Today’s markets analysis on behalf of George Pavel General Manager at Capex.com Middle East

Gold has seen modest movements in today’s trading session as investors adopt a cautious stance in anticipation of critical US inflation data releases scheduled for this week. Today, the market’s focus is on the US Producer Price Index (PPI) for April, which will be followed by a speech from Federal Reserve Chair Jerome Powell. Attention will then shift to the U.S. Consumer Price Index (CPI), set to be released on Wednesday. These upcoming reports are pivotal as they could provide insights into the Federal Reserve’s timing for its initial rate adjustments. Investors are particularly keen on the possibility of a rate cut in September, contingent on the inflation data. Should the inflation figures exceed expectations, the likelihood of a rate cut may diminish, potentially negatively impacting gold prices. However, demand for gold from the Asian markets, particularly China, is expected to continue to provide support to current price levels.

 

Zaid Barem – Your Mind Media