GOLD Suddenly Loses Its Rate, What's the Case?

thecekodok

 Gold was back in the dark earlier in the week after losing more than 1% at the end of last week's trade amid investor caution ahead of the FOMC policy meeting.


In the Asian session, the yellow metal traded bleakly at around $1,643 an ounce, while gold futures were little changed at $1,645 an ounce.


The US dollar was trading flat following the gains made at the end of last week's trading after seeing a stronger reading of US personal consumer expenditure (PCE) data.



PCE, which is the Fed's preferred measure of inflation, rose 0.5% in September in line with the increase recorded in August.


This again strengthened investors' expectations for a rate hike of 75 basis points by the Fed early Thursday morning (Malaysian time).


Also limiting gold trading was the revival of US 10-year bond yields at around 4.00% during the Asian session.


In the meantime, the publication of the US NFP employment report on Friday is also the main focus of the market to see the health of the labor market and the country's economy.

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