Gold steadied near $4,115 an ounce on conflicting signals over Iran, clouding the outlook for inflation and Federal Reserve rate cuts. Bullion fell over 1% this week as diplomatic reports of a ceasefire proved inaccurate, keeping energy prices and inflation concerns elevated. Higher borrowing costs weigh on non-yielding gold, while long-term Treasuries rose on oil's pullback and signs of a softening U.S. economy.
September housing starts declined, and pending home sales hit a record low, providing few fresh clues for traders ahead of the Fed's meeting next week. Chair Kevin Warsh reinforced expectations of steady rates, with a quarter-point hike probability under one-in-six. Despite inflation remaining well above the 2% target, markets see an 85% chance of another increase later this year.
Spot gold dipped 0.2% to $4,117.83 in Singapore, while silver, platinum, and palladium also declined. The dollar index was little changed after a previous session drop.
Quelle: Bloomberg Markets · Zusammengefasst von HeadlinesBriefing