InfoQuest – Gold futures bounced back near 2,370 on positive factors from dollar weakness. and the fall in US government bonds.
At 7:08pm Thai time, gold contracts will be offered on the COMEX (Commodity Exchange) market in June. $8.60 or 0.36% to $2,368.50/oz.
A weaker dollar increases the attractiveness of gold. This makes gold contracts cheaper for holders of other currencies. This will help reduce the opportunity cost of holding gold in the face of falling US government bond yields. This is because gold is an asset with no income in the form of interest.
In addition, the gold prices were raised by Federal Reserve (Fed) Chairman Mr. Positive factors came from Jerome Powell, who said the Fed would not raise interest rates this year.
Investors keep an eye on the Consumer Price Index (CPI), which measures inflation from consumer spending. That will be revealed tonight. To find signals indicating the direction of US interest rates
The results of a survey of analysts showed that the headline CPI index, which includes food and energy categories, rose 3.4% in April from 3.5% in March.
On a monthly basis, the headline CPI index is expected to have risen 0.4% in April from 0.4% in March.
As for the Core CPI Index (Core CPI), it does not include food and energy categories. It is expected to increase to 3.6% in April from 3.8% in March.
On a monthly basis, the core CPI index is expected to have risen 0.3% in April from 0.4% in March.
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