Gold prices eased on Monday as bets firmed for a smaller US rate cut in November after strong jobs data. Spot gold slipped 0.2% to $2,647.49 per ounce. US gold futures were unchanged at $2,667.10. The stronger-than-expected September jobs report, released on Friday, poured cold water on expectations of a large Fed rate cut next month, boosting the dollar. This week, market participants will focus on minutes of the Fed's last policy meeting, and the US Consumer Price Index (CPI) and Producer Price Index (PPI) data. A slew of US central bank officials are also speaking this week. Spot silver fell 0.2% to $32.11, platinum lost 0.4% to $983.67 and palladium rose 0.6% to $1,017.63. Source: Qatar News Agency
Related Articles
Indonesia’s Trade Surplus Reach of $2.89 Billion in August
Indonesia’s trade surplus rose to a three-month high in August, as exports grew much faster than expected, official data showed on Tuesday.
According to Statistics Indonesia, the country reported a surplus of $2.89 billion in August. The surplus was …
Commerce ministry suspends dealing with poultry Company precautionary
The Ministry of Commerce and Industry announced, Sunday, that it has stopped dealing with one commercial company as a precaution, preventing it from selling frozen poultry in all branches until further notice. All trades with the supplier is suspended…
Dollar Eases as Biden Ends Re-Election Bid
The dollar eased slightly on Monday as investors gauged the implications of US President Joe Biden’s decision to end his re-election campaign for the Presidential Elections in November 2024.
The US currency slipped 0.08% to 157.38 yen early in the As…