COMMODITY
Gold futures finish higher ahead to CPI data
Sep-11-2024
Gold futures finished higher on Tuesday, as market braced for later today’s US August CPI numbers for more insights on Fed interest rate cut and the first debate between US presidential candidates Kamala Harris and Donald Trump in anticipation of the November election. As per reports the US annual inflation rate is estimated to slow for a fifth consecutive month to 2.6% in August, down from 2.9% in July, while the monthly inflation rate is estimated to remain unchanged at 0.2%. Meanwhile, investment appeal of the bullion got kindled with the weakness in bond yield notes and on caution ahead to next week’s Fed meeting on monetary policy.

Gold futures for December delivery up by $10.40 or 0.40% to $2,543.10 per ounce on the Comex division of the New York Mercantile. While, spot gold rose by $2.61 or 0.10% to settle at $2,519.34 an ounce.

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