Breaking News
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Gold Up, Investors Digest Mixed China Inflation Data

CommoditiesJun 09, 2021 06:46
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters.

By Gina Lee – Gold was up on Wednesday morning in Asia as investors digested mixed inflation data from China and waited for similar data from the U.S. on Thursday.

Gold Futures edged up 0.12% to $1,896.65 by 10:11 AM ET (5:11 AM GMT). The dollar , which usually moves inversely to gold, inched up on Wednesday while the benchmark 10-year U.S. Treasury yields fell to their lowest in more than a month.

Data released earlier in the day showed that the Chinese consumer price index (CPI) for May contracted 0.2% month-on-month and increased 1.3% year-on-year. However, the producer price index (PPI) jumped 9% year-on-year, exceeding expectations.

Elsewhere in Asia, South Korea’s unemployment rate rose 3.8% in May, slightly higher than April’s 3.7% growth, indicating that the number of people employed continued to rise.

In the U.S., JOLTs Job Openings in April increased to 9.286 million, higher than both the 8.3 million figures in forecasts prepared by and March’s 8.288 million.

Investors now await the U.S. core CPI index data for May due on Thursday for further clues on the U.S. Federal Reserve’s timeline to change its current dovish monetary policy.

“The tight trading ranges seen so far this month reflect the cautious mood in the market ahead of the inflation numbers… whilst the Fed reassures that this spike in inflation is temporary, policymakers will need to be out in their droves to calm the market,” City Index senior financial markets analyst Fiona Cincotta told Bloomberg.

Across the Atlantic, investors are also paying attention to the European Central Bank’s policy decision, due to be handed down on Jun. 10. Meanwhile, world leaders, including U.S. President Joe Biden and German Chancellor Angela Merkel are expected to attend the Group of Seven (G7) leaders’ summit due to open on Friday in the U.K.

Gold Up, Investors Digest Mixed China Inflation Data

Related Articles

EU leaders to discuss soaring energy prices
EU leaders to discuss soaring energy prices By Reuters - Sep 28, 2021

By Kate Abnett BRUSSELS (Reuters) -Leaders of European Union countries will discuss surging energy prices when they meet next month, as governments scramble to cushion households...

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’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
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.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
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'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
Sign up with Email