Gold flat as traders assess Fed rate hike path


Spot gold may bounce to $1,783 before falling - technicals


UK consumer spending fails to keep pace with inflation: surveys

By Ashitha Shivaprasad

Dec 6 (Reuters) - Gold was little changed on Tuesday, as the dollar steadied after seeing its biggest jump in two weeks in the previous session, while worries about bigger rate hikes by the U.S. Federal Reserve lingered.

Spot gold XAU= held its ground at $1,769.99 per ounce as of 0553 GMT. U.S. gold futures GCv1 were unchanged at $1,781.20.

"Gold prices have been tracking the dollar moves closely," said IG Market strategist Yeap Jun Rong.

"With market trying to seek clarity on Fed's rate hike plan, rate expectations have been sensitive to incoming economic data. Signs of stronger-than-expected demand may lead markets to revisit more hawkish expectations."

One such instance was on Monday when data showed that U.S. services industry activity unexpectedly picked up in November, with employment rebounding, offering more evidence of underlying economic momentum.

Bullion dropped from a five-month high to close 1.6% lower as the dollar rebounded after the data prompted speculation the Fed may lift rates more than recently projected.

Higher interest rates tend to weigh on gold's appeal as they increase the opportunity cost of holding the non-yielding metal.

Spot gold may bounce to $1,783 per ounce, before resuming its fall towards $1,766, Reuters technical analyst Wang Tao said.

Investors also took stock of news that COVID-19 cases in top bullion consumer China dropped and cities across the country ease restrictions and testing requirements.

Meanwhile, British consumer spending ticked up last month at a rate that greatly lagged behind inflation, according to surveys.

Spot silver XAG= climbed 0.5% to $22.37. Platinum XPT= was up 0.1% to $998.63 and palladium XPD= gained 0.5% to $1,885.75.
Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Subhranshu Sahu and Savio D'Souza

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。


本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。