(Bloomberg) -An Gold in a narrow band on Wednesday after falling 1.3% of the previous session, when traders ordered profits from the latest metal run.
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Bullion traded nearly $ 2,915 per ounce, about $ 40 shy of freshly fresh Monday-time. U.S. weak data has supported him in recent days which has boosted hopes for a federal back -up rate cut as early as July, while President Donald Trump's tariff threats have increased demand for a Home.
Prices have also been strengthened by a fresh interest in bully supported exchange trading funds. Last week, net inflows were the largest since 2022, according to data compiled by Bloomberg.
ETF buyers could “drive the next leg higher in gold and could more than offset weak technical trends and a weak physical market,” a standard Chartered PLC analyst Suki Cooper said in a note.
Traders were also monitoring new trade threats by Trump after the President signed an executive case on Tuesday directing the Department of Commerce to examine potential copper tariffs.
Looking ahead, investors will analyze Friday's core personal spending price index, the Fed's optional inflation meter, for clues for the monetary policy trajectory.
Gold spot was changed slightly at $ 2,913.46 ounces at 12:22 pm in New York. The Bloomberg dollar spot index also changed little. Silver rose while palladium and platinum are flat.
-With the help of Jack Ryan and Yvonne Yue Li.
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