Gold Futures Rise as Markets Await US CPI Data Gold futures rose 0.3% to $2,725.60 a troy ounce ahead of key US economic data. Investors are positioning themselves ahead of the release of Consumer Price Index data on Wednesday, ANZ Research analysts said in a note.
The figures are expected to confirm the Federal Reserve's decision on a December interest rate cut, ANZ said. While markets are pricing in about a 90% chance of a rate cut, signs from the CPI data that shake that belief could be a drag on non-yielding bullion.
The precious metal is also supported by safe-haven demand amid geopolitical tensions and the resumption of gold purchases by China's central bank after a six-month hiatus, ANZ added.
Source: Dow Jones Newswires
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