Commoney Wise
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos
  • Login
  • Register

  Breaking
Tyre Nichols police report at odds with video of brutal traffic stop before his death February 2, 2023
Listen to McCarthy right after his meeting with Biden February 2, 2023
Joe Biden Kevin McCarthy meeting yields no debt ceiling deal February 2, 2023
Ethereum Developers Launch “Zhejiang” – The New Testnet for ETH Withdrawals February 2, 2023
After the Fed’s latest move, how come you’re still not getting a higher rate on your bank savings? February 2, 2023
Next
Prev

en English
en Englishes Españolde Deutschfr Françaisit Italianopt Portuguêsru Русскийzh-CN 简体中文hi हिन्दीja 日本語
Casino
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos
No Result
View All Result
Commoney Wise
Casino
  • News
  • Politics
  • Business
  • Economy
  • Finance
  • Investing
  • Markets
  • Crypto
  • Tech
  • Videos
Home Markets Commodities

Gold nurses sharp losses as U.S. CPI report, Fed meeting loom

Staff by Staff
December 13, 2022
in Commodities
0 0
A A
0

© Reuters.

By Ambar Warrick 

Investing.com– Gold prices hovered around a one-week low on Tuesday, while the dollar steadied as traders hesitated from making big bets ahead of key U.S. consumer inflation data that is expected to set the tone for U.S. monetary policy in the coming months. 

Prices of the yellow metal fell sharply on Monday, unwinding some recent gains as traders locked in profits ahead of the highly-awaited reading. While the (CPI), which is due at 08:30 ET (13:30 GMT), is expected to show that inflation eased further in November, markets are wary of any unexpected strength in the reading.

The U.S. , which gauges manufacturing inflation, eased less than expected in November, raising fears of a similar trend in the CPI. 

was flat at $1,782.17 an ounce, while steadied around $1,793.10 an ounce. Both instruments sank over 1% on Monday. 

A stronger-than-expected inflation reading is likely to elicit a hawkish response from the Federal Reserve – a move that could push up the and while heralding more pressure on metal markets. The greenback steadied above a five-month low on Tuesday. 

While the central bank is set to at the conclusion of a two-day meeting on Wednesday, its guidance on where interest rates will peak will be closely watched. The Fed hiked rates by a total 375 bps this year, which weighed heavily on gold by driving up the opportunity cost of holding the yellow metal. 

While the central bank signaled it will raise interest rates at a slower pace in the coming months, it also warned that interest rates could peak at much higher levels if inflation shows little signs of easing.

Other precious metals were mildly positive on Tuesday after logging sharp losses in the prior sessions. rose 0.1%, while added 0.5%.

Among industrial metals, copper prices edged higher after falling sharply in the prior session.  

rose 0.2% to $3.8137 a pound, recovering from a 1% drop.  

The red metal is expected to see volatile trade in the coming weeks amid uncertainty over how major importer China will carry out an economic reopening from nearly three years of COVID lockdowns.

While the country relaxed several movement and quarantine measures, it is still coping with its worst-ever outbreak.

Read the full article here

ShareTweetSharePinShareSendShare
https://www.madmoneycasino.com/?faff=667&sub=DemCasino

Related Articles

Commodities

Gold crosses $1,950 as dollar sinks on Fed intent to continue rate hikes

February 1, 2023
Commodities

Oil longs scratch head as U.S. crude stocks hit 20-month highs

February 1, 2023
Commodities

Natural gas continues southwards, hitting mid-$2 levels

February 1, 2023
Commodities

Explainer-Spilt milk? Why are the US and Canada fighting over dairy?

February 1, 2023
Commodities

U.S. crude inventories up 4.14M barrels last week, hit 20-month highs

February 1, 2023
Commodities

U.S. states struggle to share dwindling waters of Colorado River

February 1, 2023
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Commoney Wise

Commoney Wise is your one stop news website for the latest finance, business and crypto news, follow us to get the news that matters to your minute by minute.

Our Other Brands Kronosslott, Commoneywise, Demcasino.de, SportsExtremes.tv, Slotgamesusawwr, Coin Desk Times, Kingsofgolf.be

Topics

Business Commodities Crypto Economy Finance Forex Futures Investing Markets News Politics Stocks Tech Videos

Get Informed

The most important world news and events of the day

Be the first to know latest important news & events directly to your inbox.

By signing up, I agree to our TOS and Privacy Policy.

  • Privacy
  • Terms
  • Press
  • Advertise
  • Contact

© 2022 Commoney Wise. All Rights Reserved.

No Result
View All Result
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos

© 2022 Commoney Wise. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.