Gold Hits Another Record as Investors Await US Inflation Print
- Bullion gains as much as 1.1% to hit fresh high of $2,365.35
- Geopolitical risks also adds momentum to recent bullish run
Gold is up more 17% since mid-February.
Photographer: Anindito Mukherjee/BloombergThis article is for subscribers only.
Gold extended its bull run to a fresh record ahead of the next set of US inflation data that could provide insight into the Federal Reserve’s next steps.
Bullion jumped as much as 1.1% to $2,365.35 an ounce as Treasury yields slipped. Economists surveyed by Bloomberg expect Wednesday’s release of March inflation numbers may show some signs of easing, a scenario that would give the Fed more flexibility in cutting rates. That’s important for gold because it doesn’t pay interest and therefore tends to be more attractive when rates are lower.