{"id":22058,"date":"2023-06-13T12:23:02","date_gmt":"2023-06-13T16:23:02","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/gold-prices-end-second-session-lower-as-traders-await-inflation-report-fed-meeting-2\/"},"modified":"2023-06-13T12:23:03","modified_gmt":"2023-06-13T16:23:03","slug":"gold-prices-end-second-session-lower-as-traders-await-inflation-report-fed-meeting-2","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=22058","title":{"rendered":"Gold prices end second session lower as traders await inflation report, Fed meeting"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002164157\" role=\"document\">\n<p>Gold prices settled lower on Monday, after posting a gain last week, as traders awaited a Tuesday inflation report followed by the conclusion of the Federal Reserve\u2019s June policy meeting on Wednesday. <\/p>\n<h2>Price action<\/h2>\n<ul class=\"articleList\">\n<li>\n      Gold futures for August delivery<br \/>\n        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"negative\">-0.54%<\/bg-quote><\/p>\n<p>        GCQ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/229917075\/delayed\" class=\"negative\">-0.54%<\/bg-quote><br \/>\n       fell $7.50, or 0.4%, to settle at $1,969.70 per ounce on Comex, down a second straight session.<\/p>\n<\/li>\n<li>\n      Silver futures for July delivery<br \/>\n        SI00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210315219\/delayed\" class=\"negative\">-0.83%<\/bg-quote><br \/>\n      \u00a0<br \/>\n        SIN23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210317649\/delayed\" class=\"negative\">-0.83%<\/bg-quote><br \/>\n       fell by 35 cents, or 1.4%, to $24.06 per ounce. <\/p>\n<\/li>\n<li>\n      Palladium for September delivery<br \/>\n        PAU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/236560919\/delayed\" class=\"positive\">+1.89%<\/bg-quote><br \/>\n       gained $36.30, or 2.8%, to $1,341.10 per ounce, while July platinum<br \/>\n        PLN23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/234960229\/delayed\" class=\"negative\">-1.16%<\/bg-quote><br \/>\n       fell by $17.50, or 1.7%, to $995.30 an ounce, the lowest for a most-active contract since late March. <\/p>\n<\/li>\n<li>\n      Copper for July delivery\u00a0<br \/>\n        HGN23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210057830\/delayed\" class=\"positive\">+2.39%<\/bg-quote><br \/>\n       declined by 4 cents, or 1%, to $3.75 per pound. <\/p>\n<\/li>\n<\/ul>\n<h2>What\u2019s happening<\/h2>\n<p>With U.S. benchmark stock indexes up along with the dollar and Treasury yields, it would\u2019ve been a surprise if gold didn\u2019t fall on Monday, said Adrian Ash, director of research at BullionVault. <\/p>\n<div class=\"paywall\">\n<p>Expectations that the Fed will pause interest-rate hikes at its meeting this week is \u201cpretty much 100% priced in, so all eyes are on Wednesday\u2019s language and dot plots,\u201d he told MarketWatch.<\/p>\n<p>However, a hot Tuesday U.S. inflation report could push the central bank toward a surprise hike following Friday\u2019s hotter-than-expected monthly U.S. jobs data. <\/p>\n<p><strong>See:<\/strong> Fed might hike interest rates again in June instead of a \u2018skip,\u2019 some economists think<\/p>\n<p>As the U.S. central bank assessed whether higher interest rates are slowing inflation, markets have priced in a \u201cskip\u201d decision Wednesday from Fed Chairman Jerome Powell \u2014 \u201ca scenario where hikes are paused but may resume at a later date,\u201d said Stuart O\u2019Reilly, market insight analyst at The Royal Mint, in emailed commentary.<\/p>\n<p>The situation suggests the Fed \u201cbelieves we\u2019re approaching a pivotal moment and are looking to carefully understand the impact of recent rate rises on inflation and the U.S. economy,\u201d he said.<\/p>\n<p>While some could see the Fed\u2019s upcoming decision as a \u201cnon-event, gold traders will be reading between the lines, and looking for any signal from Powell that the U.S. is heading for a recession or that core inflation remains sticky,\u201d said O\u2019Reilly. <\/p>\n<p>Gold\u2019s spot price hovers around the $1,950 mark, but \u201cthis could be propelled higher if economic data begins not to match the [Fed\u2019s] intended outcomes,\u201d he said. \u201cInvestors will be considering whether their portfolios are optimized for the economic environment we find ourselves in, and will be closely monitoring interest rates alongside broader economic indicators.\u201d <\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/gold-prices-inch-higher-as-traders-await-inflation-report-fed-meeting-49f2d77b?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices settled lower on Monday, after posting a gain last week, as traders awaited a Tuesday inflation report followed by the conclusion of the Federal Reserve\u2019s June policy meeting on Wednesday. Price action Gold futures for August delivery GC00, -0.54% GCQ23, -0.54% fell $7.50, or 0.4%, to settle at $1,969.70 per ounce on Comex, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-22058","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gold prices end second session lower as traders await inflation report, Fed meeting | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Gold prices settled lower on Monday, after posting a gain last week, as traders awaited a Tuesday inflation report followed by the conclusion of the\" \/>\n<meta name=\"robots\" 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