Business News Asia
Gold closes with a plus of $10.8 – Markets await U.S. inflation numbers
Gold futures closed higher on Tuesday (Oct. 11), helped by a slowdown in dollar appreciation. Investors look to tomorrow’s release of the U.S. Consumer Price Index (CPI) for signs of the direction of Federal Reserve (Fed) interest rates.
- The gold futures were up $10.8, or 0.64%, at $1,686 an ounce.
- Silver was down 12.8 cents, or 0.65%, at $19.487 an ounce.
- The platinum contract was up $3.3, or 0.37%, at $899.1 per ounce.
- The palladium contract was down $17.50, or 0.8%, at $2,150.40 an ounce.
Gold markets performed positively as the dollar index slowed its appreciation against the 6 other currencies in the basket. It rose only 0.06%, after rising sharply in recent days and put pressure on the gold market.
Investors are waiting for the minutes of the Federal Reserve’s (Fed) September meeting, which will be released on October 12, and CPI data on October 13 for signs of Fed rate moves.
Analysts expect the CPI to have risen 8.1% year-on-year in September, up from 8.3% in August.
Core CPI (excluding food and energy) is expected to increase by 6.5%, up from 6.3% in August.
The Spot Market is Open
Wednesday, October 12, 2022
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 11.50 | 1,669.00 1,670.00 | +2.60 +0.16% | 1,661.60 1,673.50 |
| Silver 11.50 | 19.16 19.26 | +0.05 +0.24% | 19.00 19.33 |
| Platinum 11.50 | 891.00 901.00 | +5.00 +0.56% | 884.00 902.00 |
| Palladium 11.40 | 2,080.00 2,230.00 | +22.00 +1.07% | 2,048.00 2,236.00 |
| Rhodium 05.00 | 12,600.00 14,600.00 | 0.00 0.00% | 12,600.00 14,600.00 |
