A weaker greenback makes gold enticing for abroad consumers, whereas decrease Treasury yields cut back the chance value of holding zero-yield bullion.
* Spot gold was up 0.2% at $1,855.11 per ounce, as of 0103 GMT, having risen as a lot as 1.1% within the earlier session. U.S. gold futures rose 0.2% to $1,856.90.
* The greenback fell, lifting demand for greenback-priced gold, after financial knowledge confirmed inflation remained excessive however was unlikely to steer the U.S. central financial institution to shift to a extra aggressive path of financial coverage. [USD/]
* The patron value index (CPI) rose 0.3% final month, the smallest acquire since August, the Labor Division stated on Wednesday, versus the 1.2% month-to-month surge within the CPI in March, the most important advance since September 2005.
* Benchmark U.S. 10-year Treasury yields had been down after the info did not ease considerations that the Federal Reserve’s agenda to chill rising costs might induce a recession. [US/]
* The Fed raised its benchmark in a single day rate of interest by half a proportion level final week, the largest hike in 22 years, because it strikes to unwind ultra-easy pandemic-era financial coverage and makes an attempt to fight hovering inflation.
* Spot silver was up 0.1% to $21.57 per ounce, whereas platinum dipped 0.2% to $990.64, and palladium fell 0.7% to $2,021.16.
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