Gold fell in Asia on Thursday morning after a four-and-a-half month high in the previous session, with investors expecting the U.S. to release key economic data later in the day.
Gold futures are down 0.04% at 9,900.50. The dollar, which normally moves against gold, rose on Thursday. U.S. Treasury yields rose to 1.58%.
Although central officials have reiterated that any inflation is mediocre, the central bank has maintained its current monetary policy for some time. Investors are constantly watching how the Federal Reserve is going to change its policy in light of the running inflation.
However, Randy Quarrels, the central vice president for oversight, said the central bank was ready to begin discussions on Wednesday.
Although “we must be patient” in any policy change, “if my expectations of economic growth, employment, and inflation in the coming months are to be borne … especially if they become strong.”
(Federal Open Market Committee) It is important to begin discussing our plans to adjust the pace of property purchases at upcoming meetings, “said Quarrels, echoing comments made by Federal Vice President Richard Clarida earlier this week.
Elsewhere in the central bank front, the Bank of Korea handed over its policy decision the previous day, keeping its interest rate unchanged at 0.50%.
On the data front, investors are now looking at US GDP growth in the first quarter of 2021. Waiting for data, including the previous week’s early unemployment claims, as well as major durable goods orders and April home sales pending.
Among other precious metals, palladium fell 0.2%, silver 0.4% .5 27.59 and platinum 0.7%.
