Gold Prices Flat Ahead of U.S. Inflation Data; Dollar Inches Up
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Gold prices were little changed on Monday as the dollar traded near 16-month highs and traders awaited U.S. inflation data due later this week.
Meanwhile, Federal Reserve Chairman Jerome Powell’s speech on Wednesday would also be closely watched as he discusses national and global economic issues.
The Fed indicated earlier this month that it is still on course to hike interest rates in December.
Interest rate increases and higher U.S. bond yields are usually bearish for gold, which offers no yield. They also tend to boost the dollar, in which gold is priced.
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