{"id":50940,"date":"2023-08-21T00:49:47","date_gmt":"2023-08-21T04:49:47","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/commodities\/gold-edges-higher-copper-muted-after-china-cuts-rates\/"},"modified":"2023-08-21T00:49:49","modified_gmt":"2023-08-21T04:49:49","slug":"gold-edges-higher-copper-muted-after-china-cuts-rates","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=50940","title":{"rendered":"Gold edges higher, copper muted after China cuts rates"},"content":{"rendered":"
\n

Investing.com– Gold prices rose slightly on Monday, steadying after steep losses over the past four weeks as markets awaited more cues on U.S. monetary policy, while copper prices were flat after a Chinese interest rate cut missed expectations.<\/p>\n

Focus this week is largely on the on Thursday and Friday, where Federal Reserve Chair Jerome Powell is expected to offer more signals on the path of U.S. interest rates.\u00a0<\/p>\n

Gold prices somewhat trimmed recent losses after tumbling below the key $1,900 an ounce level, seeing some safe haven demand as slowing growth in China also weighed on sentiment. The People\u2019s Bank of China largely missed market expectations with changes to its loan prime rate (LPR) on Monday.\u00a0<\/p>\n

rose 0.2% to $1,892.68 an ounce, while expiring in December rose 0.3% to $1,921.95 an ounce by 00:16 ET (04:16 GMT). Both instruments were still trading close to a five-month low. <\/p>\n

Jackson Hole, more Fed cues awaited\u00a0<\/h2>\n

Gold is expected to trade rangebound in the coming days as investors hunker down ahead of the Jackson Hole Symposium later this week.<\/p>\n

Strong U.S. inflation and labor market readings had severely dented gold prices in recent weeks, as markets began pricing in a greater possibility of higher interest rates. Powell is now expected to shed more light on the bank\u2019s plans for rates, after the minutes of the Fed\u2019s July meeting showed that most policymakers supported higher rates to curb sticky inflation.<\/p>\n

The and treasury yields advanced on expectations of higher rates, which in turn dented gold and other non-yielding assets. Rising interest rates had ramped up the opportunity cost of holding gold over the past year, leaving most traders sticking to the dollar as their preferred safe haven.\u00a0<\/p>\n

Copper flat as China rate cut disappoints\u00a0<\/h2>\n

Among industrial metals, copper prices moved little on Monday even as top importer China disappointed markets with its rate cut.<\/p>\n

were flat at $3.7207 a pound.<\/p>\n

The PBOC cut its by 10 basis points (bps) to 3.45%, while the was left unchanged at 4.20%. Analysts had forecast a cut of at least 15 bps to each rate.<\/p>\n

The move signaled that the world\u2019s largest copper importer has little monetary headroom to keep loosening policy and supporting growth- a trend that could potentially worsen its appetite for the red metal.<\/p>\n

Copper imports to China had fallen sharply in July, as a post-COVID economic recovery in the country ran dry. This weighed heavily on copper prices over the past three weeks.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investing.com– Gold prices rose slightly on Monday, steadying after steep losses over the past four weeks as markets awaited more cues on U.S. monetary policy, while copper prices were flat after a Chinese interest rate cut missed expectations. Focus this week is largely on the on Thursday and Friday, where Federal Reserve Chair Jerome Powell […]<\/p>\n","protected":false},"author":1,"featured_media":11879,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[242],"tags":[83],"class_list":["post-50940","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-commodities","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nGold edges higher, copper muted after China cuts rates | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com-- Gold prices rose slightly on Monday, steadying after steep losses over the past four weeks as markets awaited more cues on U.S. monetary\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=50940\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold edges higher, copper muted after China cuts rates | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Investing.com-- Gold prices rose slightly on Monday, steadying after steep losses over the past four weeks as markets awaited more cues on U.S. monetary\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=50940\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-21T04:49:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-21T04:49:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXNPEB6Q0SB_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"531\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=50940#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=50940\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Gold edges higher, copper muted after China cuts rates\",\"datePublished\":\"2023-08-21T04:49:47+00:00\",\"dateModified\":\"2023-08-21T04:49:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=50940\"},\"wordCount\":419,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Commodities\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=50940#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=50940\",\"url\":\"https:\/\/ifintechworld.com\/?p=50940\",\"name\":\"Gold edges higher, copper muted after China cuts rates | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-08-21T04:49:47+00:00\",\"dateModified\":\"2023-08-21T04:49:49+00:00\",\"description\":\"Investing.com-- Gold prices rose slightly on Monday, steadying after steep losses over the past four weeks as markets awaited more cues on U.S. monetary\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=50940#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=50940\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=50940#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gold edges higher, copper muted after China cuts rates\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Gold edges higher, copper muted after China cuts rates | iFintechWorld","description":"Investing.com-- Gold prices rose slightly on Monday, steadying after steep losses over the past four weeks as markets awaited more cues on U.S. monetary","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=50940","og_locale":"en_US","og_type":"article","og_title":"Gold edges higher, copper muted after China cuts rates | iFintechWorld","og_description":"Investing.com-- Gold prices rose slightly on Monday, steadying after steep losses over the past four weeks as markets awaited more cues on U.S. monetary","og_url":"https:\/\/ifintechworld.com\/?p=50940","og_site_name":"iFintechWorld","article_published_time":"2023-08-21T04:49:47+00:00","article_modified_time":"2023-08-21T04:49:49+00:00","og_image":[{"width":800,"height":531,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXNPEB6Q0SB_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=50940#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=50940"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Gold edges higher, copper muted after China cuts rates","datePublished":"2023-08-21T04:49:47+00:00","dateModified":"2023-08-21T04:49:49+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=50940"},"wordCount":419,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Commodities"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=50940#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=50940","url":"https:\/\/ifintechworld.com\/?p=50940","name":"Gold edges higher, copper muted after China cuts rates | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-08-21T04:49:47+00:00","dateModified":"2023-08-21T04:49:49+00:00","description":"Investing.com-- Gold prices rose slightly on Monday, steadying after steep losses over the past four weeks as markets awaited more cues on U.S. monetary","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=50940#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=50940"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=50940#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Gold edges higher, copper muted after China cuts rates"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/50940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50940"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/50940\/revisions"}],"predecessor-version":[{"id":50941,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/50940\/revisions\/50941"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/11879"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}