Gold Down, Investors are Waiting For More Inflation Data

Gold fell in Asia on Tuesday morning, hovering below $ 1,900 as investors waited for more traces later in the week to measure inflationary pressure.

Gold futures are down 0.03% at 89,898.30. The dollar, which normally moves in the opposite direction to gold, was the terminal but was lower than the three-week high of 90.627 in the previous week. 10 year U.S. Treasury yields were close to less than a week.

U.S. Federal Reserve may mark the next policy move. Investors are expecting a consumer price index on Friday. The central bank will meet to hand over its policy decision next week.

The European Central Bank will submit its own policy decision before the central bank on Thursday, and both decisions will examine any indications of the type of assets.

Japan’s GDP contracted by 1% in the first quarter of 2021, according to data released the previous day. This contraction was smaller than the 1.2% contraction but less than that 2.8% growth in the previous quarter.

GDP also shrank by 3.9% year on year.

Elsewhere in the Asia-Pacific region, Australia’s National Bank of Australia (NAP) business confidence index rose to 20 in May from 17 in the previous month. Meanwhile, the NAB business survey also rose from April 32 to 37.

Among other precious metals, silver, palladium, and platinum are up 0.1%.

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