{"id":7557,"date":"2023-05-11T22:37:21","date_gmt":"2023-05-12T02:37:21","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/commodities\/gold-dented-as-markets-rethink-fed-rate-cuts-copper-slides\/"},"modified":"2023-05-11T22:37:21","modified_gmt":"2023-05-12T02:37:21","slug":"gold-dented-as-markets-rethink-fed-rate-cuts-copper-slides","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=7557","title":{"rendered":"Gold dented as markets rethink Fed rate cuts, copper slides"},"content":{"rendered":"
\n

Investing.com– Gold prices steadied on Friday after reversing all their gains this week as sticky U.S. inflation data saw markets reassess their expectations for rate cuts from the Federal Reserve.<\/p>\n

A string of weak economic readings from the U.S. and China spurred steep losses in copper and other base metals, amid growing fears that an economic slowdown this year will crimp demand.<\/p>\n

These fears still kept gold pinned above the $2,000 an ounce mark, with safe haven demand for the yellow metal remaining relatively high as the economic outlook deteriorated. Bullion prices appear to have formed a new support level at $2,000 an ounce, as concerns over a U.S. banking crisis also drove capital into the yellow metal.<\/p>\n

Still, gold saw steep losses in the prior session as sticky U.S. (PPI) inflation data saw markets scale back their expectations for any interest rate cuts by the Federal Reserve this year.<\/p>\n

rose slightly to $2,016.97 an ounce on Friday, while crept up to $2,022.05 an ounce by 20:10 ET (00:10 GMT). Both instruments were now trading flat for the week after sharply reversing course on Thursday.<\/p>\n

Thursday\u2019s PPI reading followed a similar pattern as data released on Wednesday, which showed that while U.S. inflation eased slightly in April, it still remained well above the Fed\u2019s 2% target.<\/p>\n

show that markets scaled back their expectations for a rate cut this year, and are now pricing in a nearly 92% chance the bank\u00a0 will keep rates steady in June.<\/p>\n

Other precious metals also steadied on Friday after sharp losses this week. and futures fell 0.1% and 0.4%, respectively.<\/p>\n

Industrial metals steadied on Friday after steep losses in the prior sessions, as disappointing Chinese inflation data and signs of more weakness in the U.S. job market ramped up concerns over slowing economic growth.\u00a0<\/p>\n

rose 0.1% to $3.7015 a pound after plummeting nearly 4% in the prior session.\u00a0<\/p>\n

London-traded slid nearly 3% on Thursday, while rose 0.2% from a 2.5% slide.<\/p>\n

Softer-than-expected and data from China this week ramped up concerns that an economic rebound in the world\u2019s largest commodity importer will be slower than initially expected, heralding weak demand for the remainder of the year.<\/p>\n<\/div>\n

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

Investing.com– Gold prices steadied on Friday after reversing all their gains this week as sticky U.S. inflation data saw markets reassess their expectations for rate cuts from the Federal Reserve. A string of weak economic readings from the U.S. and China spurred steep losses in copper and other base metals, amid growing fears that an […]<\/p>\n","protected":false},"author":1,"featured_media":7558,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[242],"tags":[83],"class_list":["post-7557","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-commodities","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nGold dented as markets rethink Fed rate cuts, copper slides | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com-- Gold prices steadied on Friday after reversing all their gains this week as sticky U.S. inflation data saw markets reassess their\" \/>\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=7557\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold dented as markets rethink Fed rate cuts, copper slides | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Investing.com-- Gold prices steadied on Friday after reversing all their gains this week as sticky U.S. inflation data saw markets reassess their\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=7557\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-12T02:37:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXNPEF410GC_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"489\" \/>\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=7557#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=7557\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Gold dented as markets rethink Fed rate cuts, copper slides\",\"datePublished\":\"2023-05-12T02:37:21+00:00\",\"dateModified\":\"2023-05-12T02:37:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=7557\"},\"wordCount\":370,\"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=7557#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=7557\",\"url\":\"https:\/\/ifintechworld.com\/?p=7557\",\"name\":\"Gold dented as markets rethink Fed rate cuts, copper slides | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-05-12T02:37:21+00:00\",\"dateModified\":\"2023-05-12T02:37:21+00:00\",\"description\":\"Investing.com-- Gold prices steadied on Friday after reversing all their gains this week as sticky U.S. inflation data saw markets reassess their\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=7557#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=7557\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=7557#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gold dented as markets rethink Fed rate cuts, copper slides\"}]},{\"@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 dented as markets rethink Fed rate cuts, copper slides | iFintechWorld","description":"Investing.com-- Gold prices steadied on Friday after reversing all their gains this week as sticky U.S. inflation data saw markets reassess their","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=7557","og_locale":"en_US","og_type":"article","og_title":"Gold dented as markets rethink Fed rate cuts, copper slides | iFintechWorld","og_description":"Investing.com-- Gold prices steadied on Friday after reversing all their gains this week as sticky U.S. inflation data saw markets reassess their","og_url":"https:\/\/ifintechworld.com\/?p=7557","og_site_name":"iFintechWorld","article_published_time":"2023-05-12T02:37:21+00:00","og_image":[{"width":800,"height":489,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXNPEF410GC_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=7557#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=7557"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Gold dented as markets rethink Fed rate cuts, copper slides","datePublished":"2023-05-12T02:37:21+00:00","dateModified":"2023-05-12T02:37:21+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=7557"},"wordCount":370,"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=7557#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=7557","url":"https:\/\/ifintechworld.com\/?p=7557","name":"Gold dented as markets rethink Fed rate cuts, copper slides | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-05-12T02:37:21+00:00","dateModified":"2023-05-12T02:37:21+00:00","description":"Investing.com-- Gold prices steadied on Friday after reversing all their gains this week as sticky U.S. inflation data saw markets reassess their","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=7557#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=7557"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=7557#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Gold dented as markets rethink Fed rate cuts, copper slides"}]},{"@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\/7557","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=7557"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/7557\/revisions"}],"predecessor-version":[{"id":7559,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/7557\/revisions\/7559"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/7558"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}