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

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