Where Your Speech Is Free And Your Comment Is King - Post A Link

THE NEWS COMMENTER

VOTE  (0)  (0)

Gold steady amid Fed rate cut views, trade uncertainty


Added 06-12-19 11:04:02pm EST - “* U.S. consumer prices barely rose in May, data from the Labor Department showed on Wednesday, pointing to moderate inflation that together with a slowing economy increased pressure on the Federal Reserve to cut interest rates this…” - News.yahoo.com

CLICK TO SHARE

Posted By TheNewsCommenter: From News.yahoo.com: “Gold steady amid Fed rate cut views, trade uncertainty”. Below is an excerpt from the article.

(Reuters) - Gold held steady in early Asian trade on Thursday as festering Sino-U.S. trade tensions and hopes of an interest rate cut by the U.S. central bank following soft inflation data buoyed demand for the safe-haven bullion.

* U.S. consumer prices barely rose in May, data from the Labor Department showed on Wednesday, pointing to moderate inflation that together with a slowing economy increased pressure on the Federal Reserve to cut interest rates this year.

* Weak economic data such as Wednesday's has investors hoping the Fed would give hints about a rate cut after its June 18-19 meeting.

* The dollar index versus a basket of six major currencies was steady, having risen more than 0.3% overnight.

* U.S. President Donald Trump declined to set a deadline on Wednesday for levying tariffs on another $325 billion of Chinese goods and called the relationship with Beijing good but "testy" after China walked back commitments for a trade deal.

Read more...

Post a comment.

CLICK TO SHARE

BACK TO THE HOME-PAGE