Gold slips as dollar, bond yields firm after Fed official comment – TradingView

Gold prices fell on Thursday as the U.S. dollar and bond yields rose on comments from Federal Reserve officials about cutting interest rates, while investors looked to further economic data for policy cues.

basics

* spot gold Money It was down 0.2% at $2,189.29 an ounce at 0139 GMT.

*US gold futures Money The dollar fell 0.1% to $2,188.30 per ounce.

* Federal Reserve Board Director Christopher Waller said Wednesday that recent disappointing inflation data supports the case for the U.S. central bank to hold off on lowering its short-term interest rate target.

* dollar DXY Yields on 10-year Treasury bills rose while the price of gold rose for holders of other currencies, rising 0.1% versus rivals. US10Y It also went up.

*Investors are now looking forward to Friday’s release of the U.S. Core Personal Consumption Expenditures (PCE) Price Index report to determine when the Federal Reserve will start cutting interest rates.

*The PCE price index is expected to have increased by 0.3% in February, keeping the annual pace at 2.8%. Investors are also closely watching the U.S. new jobless claims report, which will be released later in the day.

*Traders are pricing in a 62% chance the Fed will start cutting interest rates in June, down from a 70% chance as of Wednesday, according to CME Group’s FedWatch tool. When interest rates fall, the opportunity cost of holding bullion decreases.

– India’s gold imports fell more than 90% month-on-month in March, reaching their lowest level since the coronavirus pandemic, as banks cut imports as record prices hit demand. It’s an outlook.

* spot silver XAGUSD1! Platinum fell 0.4% to $24.56 an ounce. PL1! Palladium rose 0.4% to $897.10. XPDUSD1! It rose 0.4% to $987.66.

Data/Event (GMT)

07:00 UK GDP QQ, YY Q4

0855 German unemployment march

1230 US Final Q4 GDP

1,230 new U.S. unemployment claims filed each week

1400 US U Mich Final March of Sentiment