Sunday, June 20, 2021
No menu items!
Home Business Gold Down, Investors Await Further Inflation Data By Investing.com

Gold Down, Investors Await Further Inflation Data By Investing.com


© Reuters.

By Gina Lee

Investing.com – Gold was down on Tuesday morning in Asia, hovering just below the $1,900 mark as investors await further clues later in the week to gauge inflationary pressure.

inched down 0.03% to $1,898.30 by 12:12 PM ET (4:12 AM GMT). The , which usually moves inversely to gold, edged up but remained below the three-week high of 90.627 hit during the previous week. The benchmark remained near a more than one-week low.

Investors await the U.S. report, due out on Friday, that could indicate the Federal Reserve’s next policy move. The Fed will meet to hand down its policy decision in the following week.

The will hand down its own policy decision ahead of the Fed on Thursday, with both decisions to be scrutinized for any hints of asset tapering.

On the data front, contracted 1% for the first quarter of 2021, according to data released earlier in the day. The contraction was smaller than the 1.2% contraction in forecasts prepared by Investing.com but was lower than the previous quarter’s 2.8% growth.

The GDP also contracted 3.9% .

Elsewhere in the Asia Pacific region, Australia’s Index climbed to 20 in May, higher than the previous month’s 17 reading. Meanwhile, the also rose to 37, exceeding April’s 32 figure.

In other precious metals, silver, palladium and platinum inched up 0.1% while platinum edged 0.1%.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

RELATED ARTICLES

Recent GST clarifications and their impact: Tax relief in milling, pharma, education, food sectors

GST Council, in its 44th meeting, reduced the GST Rates on the specified items being used in Covid- 19 Relief and Management till...

Porsche to set up joint venture with German battery maker By Reuters

© Reuters. FILE PHOTO: A Porsche Taycan electric vehicle (EV) is seen displayed during a media day for the Auto Shanghai show in...

How content consumption has evolved during the Covid-19 pandemic

Triggered by Covid 19, India has become the world’s fastest-growing OTT marketBy Rajeev SinghThe one where screens become the window to the world“I’ll...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent GST clarifications and their impact: Tax relief in milling, pharma, education, food sectors

GST Council, in its 44th meeting, reduced the GST Rates on the specified items being used in Covid- 19 Relief and Management till...

Porsche to set up joint venture with German battery maker By Reuters

© Reuters. FILE PHOTO: A Porsche Taycan electric vehicle (EV) is seen displayed during a media day for the Auto Shanghai show in...

How content consumption has evolved during the Covid-19 pandemic

Triggered by Covid 19, India has become the world’s fastest-growing OTT marketBy Rajeev SinghThe one where screens become the window to the world“I’ll...

Perlin (PERL) price gains 100% as the focus on green energy solutions intensifies By Cointelegraph

Perlin (PERL) price gains 100% as the focus on green energy solutions intensifies Generating momentum and attracting investor attention can be a challenge during...

Recent Comments