* U.S. overall CPI up 0.3% in August. * Supply chain weakness affecting platinum, palladium demand - analyst. By Bharat Gautam. Gold steadied on Tuesday, shaking off initial declines as the dollar retreated after a slower-than-expected rise in U.S. inflation cast doubts over the U.S. Federal Reserve's tapering timeline.
* U.S. consumer price data due at 1230 GMT. * Softer inflation data could hurt gold- analyst. By Nakul Iyer. Gold prices were subdued on Tuesday with investors setting their sights on U.S. consumer price data that could offer clues on when the Federal Reserve decides to temper its economic support.
* Spot gold may retest resistance at $1,798/oz - technicals. * Holdings of SPDR Gold Trust rose 0.2% on Monday. * U.S. consumer price data due at 1230 GMT. By Eileen Soreng. Gold prices were little changed on Tuesday, as investors awaited key U.S. inflation data that could offer cues on the Federal Reserve's decision to taper stimulus measures meant to aid economic recovery from the pandemic.
Shanghai aluminium and nickel prices fell on Tuesday, as investors exercised caution ahead of key U.S. inflation data and reduced exposure after a supply shortage-driven rally in both metals earlier this month. The most-traded October aluminium contract on the Shanghai Futures Exchange fell 3% to 22,660 yuan a tonne at 0355 GMT, retreating after eight straight sessions of gains.
Barrick Gold Corp Chief Executive Mark Bristow spent years burnishing his reputation as an aggressive dealmaker, but he says now he is focused on new mines that he hopes will boost profit and the company's sagging stock price.
Barrick Gold Corp Chief Executive Mark Bristow spent years burnishing his reputation as an aggressive dealmaker, but he says now he is focused on new mines that he hopes will boost profit and the company's sagging stock price.
* Fed more focused on employment than inflation - analyst. * Palladium ticks up after hitting lowest level since August 2020. By Arundhati Sarkar. Gold prices rose on Monday in the run-up to the release of key U.S. economic data including readings on inflation that could dictate the path of Federal Reserve monetary policy.
Aluminium prices rose to $3,000 a tonne for the first time since 2008 on Monday as restrictions on output in China, the biggest producer, fuel fears that supply will run short. Prices of the lightweight metal used in packaging and construction have leaped 50% this year and 15% in only three weeks as speculators pile into the market.
* Dollar hits a more than two-week peak. * Platinum touches lowest level since November 2020. * Palladium hits its lowest level since August 2020. By Nakul Iyer. Gold prices nudged up on Monday drawing some support from weaker U.S. bond yields but a resurgent dollar kept the metal on a tight leash as investors awaited U.S. inflation readings later this week.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
Log In Required
