Gold Prices with Slight losses - US Inflation Data in focus

<h2 style="text-align: left;"><span style="font-size: x-large;"> Gold prices with slight losses - US inflation data in focus</span></h2><div><span style="font-size: x-large;"><br /></span></div><div><div style="font-size: x-large;">Gold prices were slightly weaker in Asia on Thursday morning and are currently range bound. Many investors are currently awaiting the latest US inflation data, which could provide further clues to the Fed's tightening schedule.</div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;">The gold futures traded on the COMEX arm of the <b>New York Stock Exchange Nymex</b> is down 0.08% as of 5:55 a.m. ET to trade at $1,835.05 a troy ounce. That was close to Wednesday's high of $1,835.60.</div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;">The dollar , which normally trades inversely to the price of gold, was stronger on Thursday. Meanwhile, benchmark 10-year Treasury yields fell below their November 2019 peak.</div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;">US CPI data will also be released today .</div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;">Many investors trading fed funds futures are already pricing in more than five 25 basis point rate hikes through December 2022. The probability of an initial interest rate hike of 50 basis points in March is currently given as 27%. For its part, however, the Fed is being forced to act more quickly than before in order to get inflation under control. Meanwhile, Cleveland Fed chair Loretta Mester sees no need to raise interest rates by half a percentage point in March.</div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;">Bank of England Governor Andrew will also address these issues later today.</div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;">Meanwhile, geopolitical tensions in Eastern Europe continue as Russia increases its military presence along its borders with Ukraine and Belarus. Although the Ukrainian side believes that the standoff between the Western powers and Russia can be resolved through diplomatic channels, Ukraine's Foreign Minister Dmytro Kuleba is already giving reasons for imposing sanctions on Russia.</div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;">Among the other precious metals, silver and platinum each lost 0.3%, while palladium is stable at $2,279.51.</div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjffFB3_H0bfQFdigWNoEpgljGtSnFJghHhrmydanY-BATckX87QCMuq3qVBPRH7d0Suck7b5HDEbKZTz-9Z8GeA7n9H9qzd998NMB0erQ1X0T5jc2cBLiEwBlZW1f46kmxYh-NzV7JTEY17fh3DHVHv_84EesgSM8idhXsOH0GUkLM52Vw61OeUDmP=s1280" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Gold Prices with Slight losses - US Inflation Data in focus" border="0" data-original-height="720" data-original-width="1280" src="https://blogger.googleusercontent.com/img/a/AVvXsEjffFB3_H0bfQFdigWNoEpgljGtSnFJghHhrmydanY-BATckX87QCMuq3qVBPRH7d0Suck7b5HDEbKZTz-9Z8GeA7n9H9qzd998NMB0erQ1X0T5jc2cBLiEwBlZW1f46kmxYh-NzV7JTEY17fh3DHVHv_84EesgSM8idhXsOH0GUkLM52Vw61OeUDmP=s16000" title="Gold Prices with Slight losses - US Inflation Data in focus" /></a></div><br /><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;"><br /></div><div><h3 style="text-align: left;"><span style="font-size: x-large;">FX Midday Report: US Dollar flat ahead of US Inflation data</span></h3><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;">Investors are eagerly awaiting US January consumer price data due Thursday afternoon, which could provide further clues to the Federal Reserve Bank's (Fed) tightening schedule.</div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;">Munich – In European trading on Thursday morning, the US dollar continued to move within the sideways range established after reaching a two-and-a-half-week low last Friday, with a broad base (measured by the US dollar index) with a slightly negative trend.</div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;">Investors are eagerly awaiting today's January US consumer price data, which could provide further clues to the Federal Reserve Bank's (Fed) tightening schedule. Consensus analysts expect inflation to rise further to 7.3 percent yoy, up from 7.0 percent in December.</div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;">The market takes it for granted that the US Federal Reserve will start its interest rate hike cycle in March to curb inflation. However, it is questionable how inflation will develop and how many interest rate hikes the Fed will follow this year. Fed fund futures are already pricing in more than five 25 basis point rate hikes through December 2022, with the probability that the Fed will start a big 50 basis point rate hike in March currently stands at 27 percent, according to the CME's FedWatch tool.</div><div style="font-size: x-large;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEikjd2ch9MGpxOCzB8i1tA3UOWqbGQqMsf2dxED10NV4pRjgF2bi8KaaKmxotnaMU-KVM7v8KQBZjjOdrKqLXIFFhuZxraar2-CRcVCJrbyWzfDhal2nBAZrr9b6_JtBdwCZsWzXxjighaY6xjeJfK2X3ZQzxVWLabCGx0O9D6pR-znWjG5bBXj3sN-=s325" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="FX Midday Report: US Dollar flat ahead of US Inflation data" border="0" data-original-height="159" data-original-width="325" src="https://blogger.googleusercontent.com/img/a/AVvXsEikjd2ch9MGpxOCzB8i1tA3UOWqbGQqMsf2dxED10NV4pRjgF2bi8KaaKmxotnaMU-KVM7v8KQBZjjOdrKqLXIFFhuZxraar2-CRcVCJrbyWzfDhal2nBAZrr9b6_JtBdwCZsWzXxjighaY6xjeJfK2X3ZQzxVWLabCGx0O9D6pR-znWjG5bBXj3sN-=s16000" title="FX Midday Report: US Dollar flat ahead of US Inflation data" /></a></div><br /><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;">Cleveland Fed Chair Loretta Mester said Wednesday the Fed will have to scale back monetary accommodation faster than in the past to deal with well-above-target inflation, but that it may not be necessary to start the rate hike cycle in March with half a percentage point.</div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;">EUR/USD gains up to 1.1446 so far on Thursday morning high. The EU Commission has raised its forecast for inflation in the euro zone this year to 3.5 percent on an annual average - a new high. In its autumn forecast, the Brussels authorities had still assumed 2.2 percent inflation for 2022.</div><div style="font-size: x-large;"><br /></div><div style="font-size: x-large;"><br /></div></div></div>

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Gold Prices with Slight losses - US Inflation Data in focus

 Gold prices with slight losses - US inflation data in focusGold prices were slightly weaker in Asia on Thursday morning and are currently range bound. Many investors are currently awaiting the latest…

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