Gold edges up in Asia as traders bet on inflation

Gold edges up in Asia as traders bet on inflation

On Thursday, gold soared in Asia, with the everlasting debate as for inflation prospects in 2018 driving market sentiment.

December delivery gold futures inched up 0.08% in New York being worth $1,278.74 a troy ounce.

Overnight, the number one precious metal dived after the US currency moved off intraday minimums following signs that fourth quarter economic surge was still solid, thus cementing investor hopes that the Fed will lift rates for the third time in 2017 in December.

A couple of reports on inflation and retail sales raised the greenback, putting pressure on gold to retreat from maximums as gold was still on track to report a loss for the first time this week.

On Wednesday, the Labor Department told that its Consumer Price Index rallied 0.1% the previous month having jumped 0.5% in September.

The previous month retail sales tacked on 0.2%, as the Commerce Department informed on Wednesday. It confounded hopes for a 0.1% leap.

Similar

Popular

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera