Gold eases as steady dollar dampens appeal
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Gold prices fell as the steady U.S. dollar made bullion less affordable for overseas buyers. Spot gold fell 0.3% to $2,328.20 per ounce, while U.S. gold futures were down 0.3% at $2,339.70 per ounce. The dollar edged up 0.1% against its rivals, making greenback-priced gold more expensive for buyers holding other currencies. The U.S. personal consumption expenditures (PCE) price index increased 0.3% last month, in line with forecasts, which is unlikely to change expectations that the Federal Reserve will hold off cutting interest rates until September. Lower interest rates boost the appeal of holding non-yielding bullion. China's gold consumption in the first quarter climbed nearly 6% from a year earlier. Physical gold dealers in India charged premiums last week for the first time in nearly two months as a pullback in domestic prices lured buyers, while premiums in top consumer China slipped. Spot silver fell 0.2% to $27.12 per ounce, platinum was down 0.1% at $915.10, while palladium lost 0.8% to $946.75.
#Gold #Dollar #FederalReserve #InterestRates #China #India #Silver #Platinum #Palladium
https://m.economictimes.com/markets/commodities/news/gold-eases-as-steady-dollar-dampens-appeal/articleshow/109676293.cms
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