US CPI likely to rise in July
Gold prices traded at a one-month low on Thursday, while copper prices stabilized after a significant decline as markets contracted ahead of the release of key US inflation data later in the day.
Yellow metals have fallen sharply over the past week under pressure from a stronger dollar and rising yields. Investors said they expect U.S. rates to stay elevated for much longer this year, and easing risk appetite also encouraged traders to buy the dollar.
As of 20:09 ET, spot gold rose 0.1% to $1,916.34 an ounce, while gold futures fell 0.1% to $1,948.85 an ounce. Both stocks are down about 1.3% so far this week.
BUY XAUUSD 1916 - 1918 ☄️
⚠️StopLoss: 1912
🔼TP1: 1923
🔼TP2: 1930
Yellow metals have fallen sharply over the past week under pressure from a stronger dollar and rising yields. Investors said they expect U.S. rates to stay elevated for much longer this year, and easing risk appetite also encouraged traders to buy the dollar.
As of 20:09 ET, spot gold rose 0.1% to $1,916.34 an ounce, while gold futures fell 0.1% to $1,948.85 an ounce. Both stocks are down about 1.3% so far this week.
BUY XAUUSD 1916 - 1918 ☄️
⚠️StopLoss: 1912
🔼TP1: 1923
🔼TP2: 1930
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