Wednesday, 12 June 2024 07:13 WIB | GOLD |GOLDEMAS

Gold is steady in early Asian trade, holding firmly above the $2,300/oz level ahead of U.S. CPI data and the Federal Reserve’s policy decision later in the day.

A strong demand for U.S government bond issuance saw U.S. yields fall across the board, the ANZ Research team writes in a note. This triggered hopes that the U.S. CPI reading will support the case for Fed rate cuts this year, they add.

Spot gold is flat at $2,315.29/oz.

Source : Dow Jones Newswires