Gold sees little love from rate cut expectations; Copper struggles [Yahoo! Finance]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Yahoo! Finance
Among industrial metals, copper prices retreated tracking mixed purchasing managers index data from top importer China, while a speculative frenzy that had initially fueled the metal's advance also cooled. Gold was also hit by waning safe haven demand after reports suggested that Israel and Hamas were close to entering a U.S.-brokered ceasefire agreement, which could dial down geopolitical tensions in the Middle East. Spot gold fell 0.3% to $2,321.51 an ounce, while gold futures expiring in August fell 0.2% to $2,341.55 an ounce by 00:31 ET (04:31 GMT). Gold retreats as rate cut speculation boosts stocks Losses in the yellow metal came as traders piled into more risk-driven assets, especially as recent data showed some cooling in U.S. inflation. Asian stocks surged on Monday. PCE price index data, which is the Federal Reserve's preferred inflation gauge, eased as expected in April, data showed on Friday. This sparked some bets that the Fed will begin cutting rates in Septem
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