{"id":2530,"date":"2024-03-14T05:36:35","date_gmt":"2024-03-14T05:36:35","guid":{"rendered":"https:\/\/prendergast.net\/?p=2530"},"modified":"2024-03-14T05:36:35","modified_gmt":"2024-03-14T05:36:35","slug":"gold-price-news-gold-pulls-back-from-all-time-highs","status":"publish","type":"post","link":"https:\/\/prendergast.net\/?p=2530","title":{"rendered":"Gold Price News: Gold Pulls Back From All-Time Highs"},"content":{"rendered":"
<\/div>\n

Gold Price News: Gold Pulls Back From All-Time Highs<\/strong><\/span>
\n <\/h1>\n

Frank Watson<\/p>\n

Gold News<\/p>\n

Market Analysi<\/p>\n

Gold prices pulled back slightly on Tuesday from their recent all-time highs after figures showed US inflation at higher-than-expected levels in February, prompting questions over any interest rate cuts.<\/p>\n

Prices eased as low as $2,153 an ounce during the day Tuesday, compared with around $2,182 an ounce in late deals on Monday.<\/p>\n

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KAU price $\/g – from Kinesis Exchange<\/p>\n

US core inflation figures, which strip out volatile items such as energy and food, were released Tuesday. The figures came in at 0.4% in February compared with January, higher than the market’s expected 0.3%. And on a year-on-year basis, February came in at 3.8%, slightly above market expectations of 3.7%.<\/p>\n

Higher than expected inflation suggests greater pressure on the US Fed to maintain higher interest rates for longer, weighing on non-yield-bearing assets like gold.<\/p>\n

The US dollar also increased against other major currencies on Tuesday, weighing on dollar-denominated gold prices, while US 10-year Treasury yields also rebounded, adding further to the selling pressure on gold.<\/p>\n

The pullback in prices follows all-time highs for gold, which briefly hit $2,195 an ounce on Friday as the markets bet on rate cuts materialising as soon as June, with additional support coming from recent central bank buying and safe-haven flows amid current heightened geopolitical tensions.<\/p>\n

Elsewhere, the markets will be looking ahead to Thursday for the release of US producer prices for February as well as monthly retail sales, providing a further update on the state of the US economy.<\/p>\n

Time to Buy Gold and Silver<\/a><\/u><\/span><\/span><\/span><\/p>\n

<\/p>\n

Tim Moseley<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold Price News: Gold Pulls Back From All-Time Highs   Frank Watson Gold News Market Analysi Gold prices pulled back slightly on Tuesday from their recent all-time highs after figures showed US inflation at higher-than-expected levels in February, prompting questions over any interest rate cuts. Prices eased as low as $2,153 an ounce during the … Continue reading Gold Price News: Gold Pulls Back From All-Time Highs<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[291],"_links":{"self":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/2530"}],"collection":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2530"}],"version-history":[{"count":0,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/2530\/revisions"}],"wp:attachment":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}