Institution: Gold prices continue to rise ahead of key U.S. announcement
Market data shows that spot gold rose 0.8% within the day, standing at $2450 per ounce, continuing to rebound from the sell-off in early August and ahead of key U.S. data releases. Tickmill CEO Joseph Dahrieh stated that the PPI data to be announced on Tuesday and CPI data to be released on Wednesday should provide clues for the path of Federal Reserve's monetary policy easing. Dahrieh said that higher-than-expected U.S inflation data could put some pressure on gold prices as expectations for interest rate cuts may fade, while cooling inflation should boost expectations for a softer Fed policy and push up gold prices. Dahrieh added that meanwhile, geopolitical tensions, especially those in the Middle East region, continue to enhance the appeal of gold as a safe-haven asset.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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