⛏Gold Futures
GOLD
▲ PositiveMonetaryrelevance
Fed and ECB officials signal easing inflation concerns, reducing rate hike fears and supporting gold.
Impact on assets 1
Others
Gold rose toward $4,100 an ounce on Thursday, extending an overnight rebound after Fed Chair Kevin Warsh and ECB President Christine Lagarde both said price risks have come down in recent weeks. Spot gold rose nearly 1 percent to $4,069.50 an ounce while U.S. gold futures were little changed at $4,081.70. Inflation and interest-rate fears ebbed as oil prices continued to fall on eased supply concerns, with Qatar saying indirect U.S.-Iran talks have made positive progress. At the annual ECB Forum in Sintra, Portugal, Warsh said inflation risks have eased while repeating his determination to bring inflation back to the 2 percent target, and Lagarde said risks to euro-area inflation and growth have become less pronounced. The U.S. dollar held steady ahead of the monthly jobs report due later in the day, with consensus estimates pointing to a slowdown in hiring in June and the jobless rate expected to hold steady at 4.3 percent.
Fed and ECB officials signal easing inflation concerns, reducing rate hike fears and supporting gold.