Gold Futures Slip in Asia Amid Holiday Lull and Anticipation of US Data

Published on Feb 12, 2024 12:50

old futures traded lower in Asia, continuing last week`s declines due to subdued trading amid holiday closures across major markets like China, Hong Kong, Japan, South Korea, and Singapore. Investor caution prevails as they await crucial US inflation data, which could impact interest rate expectations. Despite revised US figures indicating a smaller CPI increase for December, gold failed to rally. Markets still anticipate a potential Federal Reserve rate cut in March, with May currently priced in. MCX April delivery bullion futures traded at Rs 62,234, down 60 per 10 grams. Traders are also eyeing upcoming US retail sales and producer inflation data, along with remarks from several Fed officials.