{"id":19299,"date":"2023-09-14T09:06:06","date_gmt":"2023-09-14T09:06:06","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/gold-prices-settle-at-a-3-week-low-as-dollar-climbs-ahead-of-u-s-august-inflation-report\/"},"modified":"2023-09-14T09:06:07","modified_gmt":"2023-09-14T09:06:07","slug":"gold-prices-settle-at-a-3-week-low-as-dollar-climbs-ahead-of-u-s-august-inflation-report","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=19299","title":{"rendered":"Gold prices settle at a 3-week low as dollar climbs ahead of U.S. August inflation report"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002492990\" role=\"document\">\n<p>Gold prices settled Tuesday at their lowest in three weeks, with a stronger dollar putting pressure on precious-metals prices, as traders awaited the latest batch of U.S. inflation data due out Wednesday. <\/p>\n<h2>Price action <\/h2>\n<ul class=\"articleList\">\n<li>\n      Gold for December delivery\u00a0<br \/>\n        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"negative\">-0.23%<\/bg-quote><\/p>\n<p>        GCZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210039381\/delayed\" class=\"negative\">-0.23%<\/bg-quote><br \/>\n       fell by $12.10, or 0.6%, to settle at $1,935.10 per ounce on Comex. That was the lowest most-active contract finish since Aug. 22, according to Dow Jones Market Data.<\/p>\n<\/li>\n<li>\n      December silver<br \/>\n        SIZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210319449\/delayed\" class=\"negative\">-1.51%<\/bg-quote><br \/>\n       climbed by 2 cents, or nearly 0.1%, to $23.40 per ounce. <\/p>\n<\/li>\n<li>\n      Platinum for October delivery<br \/>\n        PLV23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/237284959\/delayed\" class=\"negative\">-0.25%<\/bg-quote><br \/>\n       added $10.50, or 1.2%, to $912.80 per ounce, while December palladium<br \/>\n        PAZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/239302145\/delayed\" class=\"positive\">+0.49%<\/bg-quote><br \/>\n       tacked on $26.10, or 2.1%, to $1,245.30 per ounce. <\/p>\n<\/li>\n<li>\n      December copper<br \/>\n        HGZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210059556\/delayed\" class=\"positive\">+0.49%<\/bg-quote><br \/>\n       shed a penny, or 0.4%, to $3.79 per pound. <\/p>\n<\/li>\n<\/ul>\n<h2>Market drivers<\/h2>\n<p>Gold and silver prices have softened since the beginning of September as the U.S. dollar has continued to climb, heaping pressure on commodity prices. Rising bond yields and the prospect of another interest-rate hike from the Federal Reserve in November have also contributed to precious metals prices\u2019 woes. <\/p>\n<div class=\"paywall\">\n<p>The strength of the dollar, \u201ca headwind for gold, has been persistent with only a few minor pullbacks along the way,\u201d Michael Armbruster, managing partner at Altavest, told MarketWatch.\u00a0\u201cMore important, long-term Treasury yields continue to trend higher.\u201d <\/p>\n<p>\u201cWe like gold in the longer run, but these two headwinds are keeping gold in check for the time being,\u201d he said.<\/p>\n<p>Strength in the U.S. dollar on Tuesday once again coincided with weaker gold prices, as U.S. currency rebounded from a slight pullback on Monday. <\/p>\n<p>Since logging its lowest end-of-day level of the year on July 13, the ICE U.S. Dollar Index<br \/>\n        DXY<br \/>\n       has climbed more than 4%, according to FactSet data. The dollar index, which measures the buck\u2019s strength against a basket of its main rivals with a heavy weighting toward the euro, was up 0.2% at 104.72 in Tuesday trade. <\/p>\n<p>Wednesday\u2019s U.S. CPI report is expected to show that, in August, consumer prices rising by 0.6%. The data are expected to make a splash in precious-metals markets, analysts said. The numbers are due out at 8:30 a.m. Eastern time.<\/p>\n<p> <strong>See<\/strong>: Inflation is set for a big increase, CPI to show. Here\u2019s why. <\/p>\n<p>The reading holds significant importance ahead of the Fed\u2019s policy meeting in September and may provide additional insights into the inflation scenario in the United States, \u201cwhich could significantly impact investor expectations regarding the U.S. dollar and, consequently, gold trading,\u201d said Rania Gule, market analyst at XS.com.<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/gold-prices-slide-as-u-s-dollar-climbs-ahead-of-august-inflation-report-82c605d2?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices settled Tuesday at their lowest in three weeks, with a stronger dollar putting pressure on precious-metals prices, as traders awaited the latest batch of U.S. inflation data due out Wednesday. Price action Gold for December delivery\u00a0 GC00, -0.23% GCZ23, -0.23% fell by $12.10, or 0.6%, to settle at $1,935.10 per ounce on Comex.<\/p>\n","protected":false},"author":1,"featured_media":10431,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-19299","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gold prices settle at a 3-week low as dollar climbs ahead of U.S. August inflation report | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Gold prices settled Tuesday at their lowest in three weeks, with a stronger dollar putting pressure on precious-metals prices, as traders awaited the\" \/>\n<meta name=\"robots\" content=\"index, follow, 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