empty
 
 

2021.05.1210:15:00UTC+00Gold Subdued As Investors Await US Inflation Data

Gold prices were flat to slightly lower on Wednesday as investors await U.S. consumer inflation data due out later in the day for further cues on the Fed's stance on inflation.

Spot gold slipped 0.1 percent to $1,834.75 per ounce, while U.S. gold futures were little changed at $1,834.85.

The U.S. dollar hovered above a 2-1/2-month low versus major peers and U.S. 10-year Treasury yields hit over 1-week high ahead of the CPI data expected to show a sharp rise in annual U.S. inflation, boosted by last April's low base.

Despite various U.S. Federal Reserve officials reiterating a firmly dovish policy stance, it is feared that more sustained inflation might force the Federal Reserve to tighten monetary policy sooner than indicated by officials in their projections.

German consumer price inflation hit a two-year high in April, final data from Destatis confirmed earlier today.

The consumer price index rose 2.0 percent year-on-year following 1.7 percent increase in March. The latest inflation rate was the highest since April 2019, when it was at the same level. The preliminary estimates for all figures were confirmed.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback