Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Gold Down, Dollar Up as Investors Await Key U.S. Inflation Data

CommoditiesDec 09, 2021 04:02
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Gina Lee

Investing.com – Gold was down on Thursday morning in Asia, while U.S. dollar and Treasury yields are on an upward trend. Investors now await U.S. inflation data which could provide clues on the Federal Reserve's next policy move.

Gold futures were up 0.66% to $1,671.75 by 10:56 PM ET (3:56 AM GMT). The dollar, which normally moves inversely to gold, edged up on Thursday.

Benchmark 10-year Treasury yields remained close to their highest level since Nov. 29, hit on Wednesday after a 10-year note auction.

U.S. data, including the consumer price index (CPI), is due on Friday. Investors also digested Wednesday’s JOLTs job opening figure, which surged to 11.033 million in October. However, decreasing hiring also suggests a worsening worker shortage.

The Fed is expected to hike interest rates in the third quarter of 2022, earlier than expected a month ago, according to a Reuters poll. Most of the respondents added that the risk was of an even-sooner interest rate hike.

Across the Atlantic, European Central Bank vice president Luis de Guindos said on Wednesday that Eurozone inflation will take longer to fall back to target than earlier thought, but so far there is no evidence that high prices are becoming embedded in wages.

The Fed, European Central Bank, and the Bank of England are all due to hand down their policy decisions next week.

Meanwhile, Chinese inflation data released earlier in the day showed that the producer price index grew 12.9% year on year. The CPI grew 2.3% year-on-year and 0.4% month-on-month in November.

In other precious metals, silver and platinum edged down 0.2%, while palladium was up 0.4%.

Gold Down, Dollar Up as Investors Await Key U.S. Inflation Data
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
David Hawley
David Hawley Dec 09, 2021 4:29
Saved. See Saved Items.
This comment has already been saved in your Saved Items
statistics!! fools gold. how can a fall in hiring signify a tightening labour market when jobless claims have been running at 2m a week for the past God knows how long? you cannot take the reading of one statistic in isolation. you will always interprete it to mean what you want it to mean. there are too many statistics...most of which are absolutely useless taken in isolation.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email