Thursday, 23 November 2023 07:18 WIB | GOLD |GOLD Spot Emas

Gold steadied after slipping in the previous session following data that showed consumers expect inflation to persist.

Treasury yields rose as a report Wednesday showed US short-term inflation expectations climbed to a seven-month high in November, while longer-run price views remained at levels not seen since 2011. The figures slightly tempered recent speculation that the Federal Reserve is getting ready to pivot to rate cuts, with options traders unwinding dovish bets. Higher rates are typically negative for non-yielding bullion. 

The precious metal is still more than 2.5% higher since the start of last week, and investors are closely watching as it hovers around the key $2,000 an ounce level.

Spot gold was up 0.1% to $1,991.42 an ounce as of 8:07 a.m. in Singapore after falling 0.4% on Wednesday. The Bloomberg Dollar Spot Index was flat. Silver and platinum were little changed, while palladium fell.

Source: Bloomberg