Gold prices rangebound around $2,300 amid rate jitters, inflation watch [Yahoo! Finance]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Yahoo! Finance
Metal markets took limited relief from an overnight drop in the dollar, as the greenback still remained in favor amid uncertainty over U.S. interest rates. Spot gold fell 0.4% to $2,325.56 an ounce, while gold futures fell 0.3% to $2,337.35 an ounce by 00:10 ET (04:10 GMT). Gold stuck around $2,300 with inflation data on tap The yellow metal fell into a trading range around the low $2,300 an ounce level over the past week, as traders grew uncertain over the prospect of U.S. interest rate cuts this year. While inflation data for May was somewhat encouraging, it still showed price pressures remaining relatively heady. Unexpectedly strong purchasing managers index prints for June also sparked concerns that strength in the U.S. economy will keep rates high for longer. Focus this week is squarely on PCE price index data, which is the Federal Reserve's preferred inflation gauge. The reading is due on Friday and is widely expected to show inflation cooling slightly but remaining w
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