Key Points
(Reuters) Gold prices edged higher on Thursday, buoyed by a weaker dollar and escalating tensions in the Middle East, while investors await more U.S. economic data that could shed light on the Federal Reserves interest rate outlook...
U.S. gold futures edged 0.1% higher to $2,036.9 per ounce...
The short-term outlook for gold is mixed, with delays to the rate-cutting timeline being somewhat countered by safe-haven demand from the geopolitical picture, said Tim Waterer, chief market analyst at KCM Trade...
We have a raft of manufacturing and services data due today and any signs of economic weakness could spark hope that rate cuts could be on the way, which may assist gold, Waterer said...
January inflation data, with consumer and wholesale prices rising faster than anticipated, complicate upcoming U.S. central bank interest rate decisions, Richmond Fed president Thomas Barkin said.. Markets are currently pricing in a 72% chance of a cut in June, according to the CME Fed Watch Tool..
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