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referring to Spot gold touched a one-month high of $1,270.47 before pulling back 0.3 percent to $1,262.76 per ounce by 2:15 p.m. EDT (1815 GMT). "Our economists continue to expect a 25 (basis points) Federal Reserve hike in June while the market is pricing in an 84 percent probability of such a hike." Palladium was up 0.91 percent at $804.25 after hitting the highest since May 16 at $807.70 an ounce. Forex.com market analyst Fawad Razaqzada said the focus for bullion this week was U.S. non-farm payrolls due on Friday. U.S. gold futures slipped to end the session 0.5 percent lower at $1,262.1 an ounce.
as informed in Palladium was up 0.5 percent at $808.65 an ounce and was on track for a monthly decline of 2 percent, its first monthly decline this year. A U.S. rate hike is probably coming soon though the Federal Reserve may want to delay if inflation remains soft, Fed governor Lael Brainard said on Tuesday. Interest rate futures on Tuesday indicated a nearly 89 percent chance of a June hike, according to CME Group's FedWatch tool. Spot gold was almost flat at $1,262.90 per ounce at 0757 GMT after slipping earlier in the day. Political tensions in the United States and Europe continue to support gold and have prevented any major losses for the metal, said Yuichi Ikemizu, Tokyo branch manager at ICBC Standard Bank.
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referring to Spot gold touched a one-month high of $1,270.47 before pulling back 0.3 percent to $1,262.76 per ounce by 2:15 p.m. EDT (1815 GMT). "Our economists continue to expect a 25 (basis points) Federal Reserve hike in June while the market is pricing in an 84 percent probability of such a hike." Palladium was up 0.91 percent at $804.25 after hitting the highest since May 16 at $807.70 an ounce. Forex.com market analyst Fawad Razaqzada said the focus for bullion this week was U.S. non-farm payrolls due on Friday. U.S. gold futures slipped to end the session 0.5 percent lower at $1,262.1 an ounce.
as informed in Palladium was up 0.5 percent at $808.65 an ounce and was on track for a monthly decline of 2 percent, its first monthly decline this year. A U.S. rate hike is probably coming soon though the Federal Reserve may want to delay if inflation remains soft, Fed governor Lael Brainard said on Tuesday. Interest rate futures on Tuesday indicated a nearly 89 percent chance of a June hike, according to CME Group's FedWatch tool. Spot gold was almost flat at $1,262.90 per ounce at 0757 GMT after slipping earlier in the day. Political tensions in the United States and Europe continue to support gold and have prevented any major losses for the metal, said Yuichi Ikemizu, Tokyo branch manager at ICBC Standard Bank.
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PRECIOUS-Gold drifts from one-month peak on Fed rate hike concerns
May 31 Gold edged lower on Wednesday, moving away from a one-month peak hit in the previous session as U.S. economic data boosted the case for an interest rate hike by the Federal Reserve next month. * Two of the Federal Reserve's 12 regional banks supported raising the discount rate ahead of the central bank's May meeting, according to minutes of the discount rate discussions released on Tuesday. DATA AHEAD (GMT) 0100 China Official manufacturing PMI May 0100 China Official non-manufacturing PMI May 0600 Germany Retail sales Apr 0645 France Producer prices Apr 0800 Germany Unemployment rate May 0900 Euro zone Inflation May 0900 Euro zone Unemployment rate Apr 1400 U.S. * A U.S. rate hike is probably coming soon though the Federal Reserve may want to delay if inflation remains soft, influential Fed governor Lael Brainard said on Tuesday, adding she also backs shrinking the bond portfolio "before too long." * U.S. consumer spending recorded its biggest increase in four months in April and monthly inflation rebounded, pointing to firming domestic demand that could allow the Federal Reserve to raise interest rates next month.read more visit us gold
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