Please use symbol entry at top right of page to search

PRECIOUS-Gold little changed as traders focus on U.S. inflation data

Jan 27 (Reuters) - Gold prices were little changed in early Asian hours on Friday, as traders awaited U.S. inflation data due later in the day to gauge the Federal Reserve's rate-hike stance.


* Spot gold rose 0.1% to $1,931.95 per ounce, as of 0030 GMT, and was headed for a sixth consecutive weekly gain. U.S. gold futures were up 0.1% at $1,932.00.

* Investors are now awaiting U.S. personal consumption expenditures (PCE) data due at 1330 GMT for clues on inflation.

* On Thursday, bullion prices fell 1% due to a firmer dollar and strong U.S. economic data that could prompt the Fed to keep interest rates higher for longer.

* The U.S. economy maintained a strong pace of growth in the fourth quarter as consumers boosted spending on goods, but momentum appears to have slowed considerably towards the end of the year.

* Market participants are still expecting the Fed to raise rates by 25 basis points (bps) at its Jan. 31-Feb. 1 policy meeting.

* Lower interest rates tend to be beneficial for bullion, decreasing the opportunity cost of holding the non-yielding asset.

* Data from the U.S. Labor Department on Thursday showed initial claims for state unemployment benefits fell 6,000 to a seasonally adjusted 186,000 for the week ended Jan. 21, the lowest level since April 2022.

* Spot silver gained 0.3% to $23.95 per ounce, platinum rose 0.1% to $1,018.71, and palladium climbed 0.2% to $1,680.03.


1330 US Consumption Adjusted MM Dec

1330 US U Mich Sentiment Final Jan (Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Subhranshu Sahu)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

Search News

Filter Results

Publication Date
  • All

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.