{"id":2684,"date":"2024-06-14T04:14:34","date_gmt":"2024-06-14T04:14:34","guid":{"rendered":"https:\/\/prendergast.net\/?p=2684"},"modified":"2024-06-14T04:14:34","modified_gmt":"2024-06-14T04:14:34","slug":"gold-price-news-gold-ticks-higher-ahead-of-us-inflation-figures","status":"publish","type":"post","link":"https:\/\/prendergast.net\/?p=2684","title":{"rendered":"Gold Price News: Gold Ticks Higher Ahead of US Inflation Figures"},"content":{"rendered":"<h1><span style=\"font-size:18pt\"><span style=\"font-family:&quot;Liberation Sans&quot;,sans-serif\"><strong>Gold Price News: Gold Ticks Higher Ahead of US Inflation Figures<\/strong><\/span><\/span><\/h1>\n<p>Market Analysis<\/p>\n<p>Gold prices edged higher on Tuesday, posting modest day-on-day gains, as the markets looked ahead to the release of macroeconomic data on Wednesday for renewed direction.<\/p>\n<p>Prices rose as high as $2,320 an ounce on Tuesday, compared with around $2,310 an ounce in late trades on Monday.<\/p>\n<p>KAU\/USD 1-hourly Kinesis Exchange<\/p>\n<p>The relative price stability this week followed a dramatic price drop from as high as $2,388 an ounce last Friday after news reports said China&rsquo;s central bank had stopped buying gold in May, breaking an 18-month streak of monthly purchases.<\/p>\n<p>The latest action leaves gold prices some way short of their all-time high of just over $2,450 an ounce seen on May 20.<\/p>\n<p>The markets were left speculating over the PBoC&rsquo;s next move and what price level would encourage a resumption of purchases for its official gold holdings, with some suggesting a drop to $2,200 an ounce could reignite regular buying.<\/p>\n<p>Current heightened geopolitical tensions around the world have combined with political uncertainty due to upcoming elections in several countries, and these factors have contributed to gold&rsquo;s strength along with central bank buying in recent months.<\/p>\n<p>Looking ahead, the markets will be watching out for Wednesday&rsquo;s US inflation figures for May, as well as an expected interest rate decision by the US Fed, which is widely expected to involve keeping the current rate of 5.5% on hold for the time being.<\/p>\n<p>Then Thursday will see the release of US Producer Price Inflation numbers for a further update on price rises, as the markets try to gauge the timing of possible interest rate cuts by the US Fed in the autumn.<\/p>\n<p>Frank Watson<\/p>\n<p><span style=\"color:#3b5998\"><span style=\"font-family:Tahoma\"><span style=\"font-size:small\"><u><span style=\"background-color:#ffffff\"><a href=\"https:\/\/kms.kinesis.money\/signup\/philipo827\" style=\"color:#000080; text-decoration:underline\">Time to Buy Gold and Silver<\/a><\/span><\/u><\/span><\/span><\/span><\/p>\n<p><\/p>\n<p>Tim Moseley<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold Price News: Gold Ticks Higher Ahead of US Inflation Figures Market Analysis Gold prices edged higher on Tuesday, posting modest day-on-day gains, as the markets looked ahead to the release of macroeconomic data on Wednesday for renewed direction. Prices rose as high as $2,320 an ounce on Tuesday, compared with around $2,310 an ounce &hellip; <a href=\"https:\/\/prendergast.net\/?p=2684\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Gold Price News: Gold Ticks Higher Ahead of US Inflation Figures<\/span> <span class=\"meta-nav\">&rarr;<\/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\/2684"}],"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=2684"}],"version-history":[{"count":0,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/2684\/revisions"}],"wp:attachment":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}