{"id":34340,"date":"2023-07-11T18:07:39","date_gmt":"2023-07-11T22:07:39","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/gold-prices-end-lower-as-traders-await-this-weeks-u-s-inflation-data\/"},"modified":"2023-07-11T18:07:40","modified_gmt":"2023-07-11T22:07:40","slug":"gold-prices-end-lower-as-traders-await-this-weeks-u-s-inflation-data","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=34340","title":{"rendered":"Gold prices end lower as traders await this week\u2019s U.S. inflation data"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002259147\" role=\"document\">\n<p>Gold futures settled with a loss on Monday after clinching their strongest one-day gain in a month on Friday following the release of the Labor Department\u2019s June jobs report. <\/p>\n<p>Traders are looking ahead to U.S. inflation data, with readings on the consumer-price index and producer-price index this week expected to offer further clues on the Federal Reserve\u2019s path for interest rates.<\/p>\n<div class=\"paywall\">\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=\"positive\">+0.34%<\/bg-quote><\/p>\n<p>        GCQ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/229917075\/delayed\" class=\"positive\">+0.34%<\/bg-quote><br \/>\n       shed $1.50, or nearly 0.1%, to settle at $1,931 per ounce on Comex, following a gain of 0.9% for Friday\u2019s session. <\/p>\n<\/li>\n<li>\n      Silver futures for September delivery<br \/>\n        SIU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/230611017\/delayed\" class=\"negative\">-0.11%<\/bg-quote><\/p>\n<p>        SI00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210315219\/delayed\" class=\"negative\">-0.11%<\/bg-quote><br \/>\n       settled at $23.345 per ounce, up 6 cents, or 0.2%.<\/p>\n<\/li>\n<li>\n      Palladium futures for September<br \/>\n        PAU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/236560919\/delayed\" class=\"positive\">+0.79%<\/bg-quote><br \/>\n       fell by $8.40, or 0.7%, to $1,236.70 per ounce, platinum for October delivery<br \/>\n        PLV23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/237284959\/delayed\" class=\"negative\">-0.31%<\/bg-quote><br \/>\n       gained $16.30, or 1.8%, to $934.80 per ounce. <\/p>\n<\/li>\n<li>\n      Copper for September<br \/>\n        HGU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210058691\/delayed\" class=\"negative\">-0.34%<\/bg-quote><br \/>\n       rose by less than a penny, or nearly 0.1%, to $3.7845 per pound. <\/p>\n<\/li>\n<\/ul>\n<h2>Market drivers<\/h2>\n<p>Gold prices benefited from the sharply weaker U.S. dollar late last week, but the boost appears to have faded as gold futures once again stabilized around the $1,930 per ounce level.<\/p>\n<p><strong>Read:<\/strong> China restricts access to 2 metals crucial to making semiconductors. What you need to know.<\/p>\n<p>\u201cGold is again trading in familiar territory,\u201d that is, above $1,900 but below the 100-day moving average of $1,925, said Tim Waterer, chief market analyst at KCM Trade, in emailed commentary. <\/p>\n<p><strong>See:<\/strong> Why gold will beat the stock market in coming weeks<\/p>\n<p>Expectations of a July hike by the Federal Open Market Committee is \u201ckeeping the short-term upside for gold capped,\u201d he said. <\/p>\n<p>Attention will be \u201csquarely on U.S. CPI and PPI data this week, because while a July rate hike is all but baked into the cake,\u201d said Waterer. <\/p>\n<p>\u201cWhat happens to U.S. interest rates between August and the end of the year is still an open question,\u201d he said. \u201cAs such, inflation gauges are the fulcrum around which market sentiment swings.\u201d<\/p>\n<p>Consumer prices on Wednesday are expected to have risen by 0.3% in June, according to the median forecast from economists polled by The Wall Street Journal, while PPI due out Thursday is seen up by 0.2%. <\/p>\n<p>Meanwhile, the ICE U.S. Dollar Index<br \/>\n        DXY,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598269\/delayed\" class=\"negative\">-0.30%<\/bg-quote><span>,<\/span><br \/>\n       a gauge of the dollar\u2019s strength against a basket of rivals, declined by 0.3%, to 102.01, providing little support to dollar-denominated prices of gold on Monday.  <\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/gold-prices-retreat-as-traders-await-cpi-data-63b73699?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold futures settled with a loss on Monday after clinching their strongest one-day gain in a month on Friday following the release of the Labor Department\u2019s June jobs report. Traders are looking ahead to U.S. inflation data, with readings on the consumer-price index and producer-price index this week expected to offer further clues on the [&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-34340","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 lower as traders await this week\u2019s U.S. inflation data | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Gold futures settled with a loss on Monday after clinching their strongest one-day gain in a month on Friday following the release of the Labor\" \/>\n<meta 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