{"id":59659,"date":"2023-09-11T14:40:10","date_gmt":"2023-09-11T18:40:10","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/gold-prices-up-a-second-session-as-dollar-retreats-ahead-of-key-inflation-reading-this-week\/"},"modified":"2023-09-11T14:40:14","modified_gmt":"2023-09-11T18:40:14","slug":"gold-prices-up-a-second-session-as-dollar-retreats-ahead-of-key-inflation-reading-this-week","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=59659","title":{"rendered":"Gold prices up a second session as dollar retreats ahead of key inflation reading this week"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002488220\" role=\"document\">\n<p>Gold futures finished higher Monday for a second straight session, finding support as the U.S. dollar weakened and investors looked ahead to this week\u2019s key consumer-price index reading for August.<\/p>\n<h2>Price action<\/h2>\n<ul class=\"articleList\">\n<li>\n      Gold for December delivery<br \/>\n        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"positive\">+0.16%<\/bg-quote><\/p>\n<p>        GCZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210039381\/delayed\" class=\"positive\">+0.16%<\/bg-quote><br \/>\n       rose $4.50, or 0.2%, to settle at $1,947.20 an ounce on Comex, after a 1.2% fall last week.<\/p>\n<\/li>\n<li>\n      December silver<br \/>\n        SIZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210319449\/delayed\" class=\"positive\">+0.87%<\/bg-quote><br \/>\n       added 21 cents, or 0.9%, at $23.38 an ounce, after suffering a 5.7% drop last week.<\/p>\n<\/li>\n<li>\n      December copper<br \/>\n        HGZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210059556\/delayed\" class=\"positive\">+2.26%<\/bg-quote><br \/>\n       settled at $3.81 a pound, up 2.4%.<\/p>\n<\/li>\n<li>\n      Platinum for October delivery<br \/>\n        PLV23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/237284959\/delayed\" class=\"positive\">+0.67%<\/bg-quote><br \/>\n       climbed 0.8% to $902.30 an ounce and December palladium<br \/>\n        PAZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/239302145\/delayed\" class=\"positive\">+2.07%<\/bg-quote><br \/>\n       added 2.3% to $1,219.20 an ounce.<\/p>\n<\/li>\n<\/ul>\n<h2>Market drivers<\/h2>\n<p>Overall, gold has struggled to gain ground since early August as Treasury yields pushed back to the upside and the U.S. dollar found strength. Higher bond yields raise the opportunity cost of holding nonyielding assets like gold, while a stronger dollar makes commodities priced in the unit more expensive to users of other currencies.<\/p>\n<div class=\"paywall\">\n<p>The dollar\u2019s bounce took a respite Monday, however, as the Japanese yen<br \/>\n        USDJPY,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210561789\/realtime\/sampled\" class=\"negative\">-0.87%<\/bg-quote><br \/>\n       surged following remarks by Bank of Japan Gov. Kazuo Ueda, \u00a0who hinted that the country\u2019s long-running negative interest rate policy could be nearing an end.<\/p>\n<p>The ICE U.S. Dollar Index<br \/>\n        DXY<span>,<\/span><br \/>\n       a measure of the currency against a basket of six major rivals, was off 0.5%, trimming its month-to-date gain to 0.9%. Strength in the dollar tends to pressure dollar-denominated prices for gold. <\/p>\n<p>Still, gold futures managed to snap a three-session decline to finish slightly higher on Friday.<\/p>\n<p>\u201cThe slight recovery in gold buying momentum over recent trading sessions is likely to face a test of time ahead of the upcoming U.S. CPI reading. which is considered as the main-event risk for traders this week,\u201d said Jameel Ahmad, chief analyst at Dubai-based brokerage GTC.<\/p>\n<p>\u201cAt the moment, the market has shifted tone towards expecting the U.S. dollar to remain as the best friend of investors for the rest of 2023, which does suggest on headline that the upside in gold is limited,\u201d he said in emailed commentary. <\/p>\n<p><strong>More information:<\/strong> See the U.S. economic calendar<\/p>\n<p>Wednesday\u2019s reading of the August consumer price index, meanwhile, will be closely watched for clues to the Federal Reserve\u2019s rate path. The dollar and Treasury yields have been boosted by expectations the Fed will need to keep rates higher for longer in response to a run of persistently strong economic data.<\/p>\n<p>Should the CPI reading show that inflationary pressures in the United States remain at strong levels and are not trending lower to the point where the Fed \u201ccan become more downbeat in their tone, the risk for gold traders will likely be that the precious metal can still decline closer towards the $1,900 handle,\u201d said Ahmad.<\/p>\n<p><strong>Read:<\/strong> The Fed is done raising interest rates, ABA economists say, and the U.S. is poised for a soft landing<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/gold-gains-ground-as-dollar-retreats-ahead-of-key-inflation-reading-3fbafa2c?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold futures finished higher Monday for a second straight session, finding support as the U.S. dollar weakened and investors looked ahead to this week\u2019s key consumer-price index reading for August. Price action Gold for December delivery GC00, +0.16% GCZ23, +0.16% rose $4.50, or 0.2%, to settle at $1,947.20 an ounce on Comex, after a 1.2% [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":59660,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-59659","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gold prices up a second session as dollar retreats ahead of key inflation reading this week | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Gold futures finished higher Monday for a second straight session, finding support as the U.S. dollar weakened and investors looked ahead to this week\u2019s\" \/>\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=59659\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold prices up a second session as dollar retreats ahead of key inflation reading this week | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Gold futures finished higher Monday for a second straight session, finding support as the U.S. dollar weakened and investors looked ahead to this week\u2019s\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=59659\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-11T18:40:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-11T18:40:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/1694457612_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\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=59659#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=59659\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Gold prices up a second session as dollar retreats ahead of key inflation reading this week\",\"datePublished\":\"2023-09-11T18:40:10+00:00\",\"dateModified\":\"2023-09-11T18:40:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=59659\"},\"wordCount\":492,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=59659#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=59659\",\"url\":\"https:\/\/ifintechworld.com\/?p=59659\",\"name\":\"Gold prices up a second session as dollar retreats ahead of key inflation reading this week | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-09-11T18:40:10+00:00\",\"dateModified\":\"2023-09-11T18:40:14+00:00\",\"description\":\"Gold futures finished higher Monday for a second straight session, finding support as the U.S. dollar weakened and investors looked ahead to this week\u2019s\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=59659#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=59659\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=59659#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gold prices up a second session as dollar retreats ahead of key inflation reading this week\"}]},{\"@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 prices up a second session as dollar retreats ahead of key inflation reading this week | iFintechWorld","description":"Gold futures finished higher Monday for a second straight session, finding support as the U.S. dollar weakened and investors looked ahead to this week\u2019s","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=59659","og_locale":"en_US","og_type":"article","og_title":"Gold prices up a second session as dollar retreats ahead of key inflation reading this week | iFintechWorld","og_description":"Gold futures finished higher Monday for a second straight session, finding support as the U.S. dollar weakened and investors looked ahead to this week\u2019s","og_url":"https:\/\/ifintechworld.com\/?p=59659","og_site_name":"iFintechWorld","article_published_time":"2023-09-11T18:40:10+00:00","article_modified_time":"2023-09-11T18:40:14+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/1694457612_social.jpeg","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=59659#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=59659"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Gold prices up a second session as dollar retreats ahead of key inflation reading this week","datePublished":"2023-09-11T18:40:10+00:00","dateModified":"2023-09-11T18:40:14+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=59659"},"wordCount":492,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=59659#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=59659","url":"https:\/\/ifintechworld.com\/?p=59659","name":"Gold prices up a second session as dollar retreats ahead of key inflation reading this week | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-09-11T18:40:10+00:00","dateModified":"2023-09-11T18:40:14+00:00","description":"Gold futures finished higher Monday for a second straight session, finding support as the U.S. dollar weakened and investors looked ahead to this week\u2019s","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=59659#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=59659"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=59659#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Gold prices up a second session as dollar retreats ahead of key inflation reading this week"}]},{"@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\/59659","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=59659"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/59659\/revisions"}],"predecessor-version":[{"id":59661,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/59659\/revisions\/59661"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/59660"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}