Metals

Metals

Date : 2023-02-14
Time : 10:00:00
Metals
  • Gold prices rose slightly from a one-month low on Tuesday, but saw little trading action as investors kept to the sidelines ahead of more economic cues from U.S. consumer inflation data due later in the day.
  • Spot gold rose 0.1% to $1,855.58 an ounce, while gold futures rose 0.1% to $1,865.95 an ounce by 19:32 ET (00:32 GMT). Both instruments weakened on Monday as markets turned volatile in anticipation of the consumer price index reading.
  • Gold prices were battered by rising interest rates in 2022, as the opportunity cost of holding non-yielding assets rose in tandem with U.S. Treasury yields. While the yellow metal did see some respite in the first few weeks of 2023, resurgent fears of the Fed reversed a bulk of gold’s recent gains.
  • High-grade copper futures fell 0.1% to $4.0585 a pound, after rallying over 1% in the prior session.

 

 

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