Gold Futures Slip Ahead of US Inflation Report

Published on May 31, 2024 14:40

Gold futures edged lower in Asia electronic trades on Friday as traders took cautious steps ahead of the US PCE inflation report. The dollar index steadied around 104.8. The US economy grew at a lackluster 1.3% annual pace in Q1, below the 1.6% advance estimate, mainly due to slower consumer spending. Dallas Fed President Lorie Logan expressed concerns about upside inflation risks and urged caution in policy adjustments. International bullion futures traded at $2362 an ounce, down $3.6, while domestic gold futures rose Rs 34 to Rs 72250 per 10 grams.