Gold prices edged lower on Wednesday, pressured by a stronger dollar and a rise in bond yields, while investors cautiously looked forward to U.S. inflation data that could influence the Federal Reserve’s timeline to taper monetary support.
Gold prices remain extra sensitive to the central bank’s announcement and economic indicators. The recent US job data added another supportive pillar to the ongoing Fed’s tapering discussion. The US Dollar Index (DXY), which measures the performance of the greenback against a basket of six major currencies trades strong above 93.00 with 0.15% gains.
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