{"id":35875,"date":"2023-07-14T22:47:18","date_gmt":"2023-07-15T02:47:18","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/gold-futures-end-near-their-highest-in-a-month-as-a-slowdown-in-u-s-inflation-helps-weaken-the-dollar\/"},"modified":"2023-07-14T22:47:19","modified_gmt":"2023-07-15T02:47:19","slug":"gold-futures-end-near-their-highest-in-a-month-as-a-slowdown-in-u-s-inflation-helps-weaken-the-dollar","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=35875","title":{"rendered":"Gold futures end near their highest in a month as a slowdown in U.S. inflation helps weaken the dollar"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002272190\" role=\"document\">\n<p>Gold futures on Thursday traded at their highest levels since mid-June, while silver touched its highest prices in two months, as the U.S. dollar tumbled following the release of June inflation data.<\/p>\n<p>The U.S. June readings for wholesale prices released Thursday and the consumer price index on Wednesday showed a slowdown in inflation, raising the prospect that the Federal Reserve\u2019s interest-rate hikes may soon be nearing an end.    <\/p>\n<div class=\"paywall\">\n<h2>Price action<\/h2>\n<ul class=\"articleList\">\n<li>\n      Gold futures for August delivery\u00a0<br \/>\n        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"negative\">-0.23%<\/bg-quote><\/p>\n<p>        GCQ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/229917075\/delayed\" class=\"negative\">-0.23%<\/bg-quote><br \/>\n       gained $2.10, or 0.1%, to settle at $1,963.80 per ounce on Comex, with front-month prices finishing at their highest levels since June 16, according to FactSet data.<\/p>\n<\/li>\n<li>\n      Silver futures for September delivery<br \/>\n        SI00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210315219\/delayed\" class=\"positive\">+0.85%<\/bg-quote><\/p>\n<p>        SIU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/230611017\/delayed\" class=\"positive\">+0.85%<\/bg-quote><br \/>\n       gained 64 cents, or 2.6%, to $24.95 per ounce, end at the highest since May.<\/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=\"negative\">-1.88%<\/bg-quote><br \/>\n       increased by $12, or 0.9%, to $1,291.80 per ounce, while platinum futures for October<br \/>\n        PLV23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/237284959\/delayed\" class=\"negative\">-0.13%<\/bg-quote><br \/>\n       gained $26.80, or 2.8%, to $983.40 per ounce.<\/p>\n<\/li>\n<li>\n      Copper futures for September<br \/>\n        HGU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210058691\/delayed\" class=\"negative\">-0.41%<\/bg-quote><br \/>\n       gained 9 cents, or 2.3%, to $3.94 per pound.<\/p>\n<\/li>\n<\/ul>\n<h2>Market drivers<\/h2>\n<p>U.S. wholesale prices rose by 0.1% in June, the government reported Thursday. That\u2019s less than the 0.2% increase forecast by economists polled by The Wall Street Journal.<\/p>\n<p>The data followed a modest 0.2% rise in June for the U.S. consumer price index, with the yearly rate of inflation slowing to 3% from 4%, on Wednesday. <\/p>\n<p><strong>Read:<\/strong> Fed\u2019s Williams says economy won\u2019t hit its weakest point until next year<\/p>\n<p>U.S. consumer price inflation fell to its lowest level since 2021, allowing Treasury yields to fall sharply. Investors immediately heralded the report as a game changer that bolstered expectations that the Fed might only deliver one more interest-rate hike in July before leaving rates on hold until some time next year. <\/p>\n<p>\u201cA tame U.S. inflation report has the marketplace thinking the Federal Reserve may be about done raising interest rates. That\u2019s bullish for commodity markets, including the metals,\u201d said Jim Wyckoff, senior analyst at Kitco. <\/p>\n<p>Dollar-denominated metals prices received another boost from a sharply weaker U.S. dollar, which has fallen to its lowest level against its main rivals in more than a year, according to 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=\"positive\">+0.19%<\/bg-quote><span>,<\/span><br \/>\n       a closely watched gauge of the greenback\u2019s value. The index was off by nearly 0.7% at 99.866 in Thursday dealings.<\/p>\n<p>Traders are expecting an end to interest-rate hikes, and the U.S. dollar index has \u201ccrashed,\u201d said Chintan Karnani, an independent consultant who\u2019s tracked the gold market for the last 20 years. Asian currencies have gained over the last two days versus the dollar all on the \u201cexpectations that the U.S. dollar is on the verge of forming a long-term top,\u201d as future interest-rate hike expectations have declined considerably.<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/gold-and-silver-near-1-month-highs-as-u-s-dollar-weakens-e5bc0916?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold futures on Thursday traded at their highest levels since mid-June, while silver touched its highest prices in two months, as the U.S. dollar tumbled following the release of June inflation data. The U.S. June readings for wholesale prices released Thursday and the consumer price index on Wednesday showed a slowdown in inflation, raising 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-35875","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 futures end near their highest in a month as a slowdown in U.S. inflation helps weaken the dollar | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Gold futures on Thursday traded at their highest levels since mid-June, while silver touched its highest prices in two months, as the U.S. dollar tumbled\" 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