KONTAN.CO.ID - JAKARTA. Gold prices lingered near a two-month low on Wednesday, trading below the key $2,000-per-ounce level, as a stronger-than-expected U.S. inflation report prompted traders to trim bets for deeper rate cuts by the Federal Reserve. Spot gold was flat at $1,991.50 per ounce (Oz), as of 0655 GMT, after hitting its lowest since Dec. 13 on Tuesday. Bullion fell about 1.4% on Tuesday in its biggest daily decline since Dec. 4. U.S. gold futures edged 0.1% lower to $2,004.30/Oz.
Gold Stays Below Key $2,000 Level as Markets Temper Fed Rate-Cut Bets
KONTAN.CO.ID - JAKARTA. Gold prices lingered near a two-month low on Wednesday, trading below the key $2,000-per-ounce level, as a stronger-than-expected U.S. inflation report prompted traders to trim bets for deeper rate cuts by the Federal Reserve. Spot gold was flat at $1,991.50 per ounce (Oz), as of 0655 GMT, after hitting its lowest since Dec. 13 on Tuesday. Bullion fell about 1.4% on Tuesday in its biggest daily decline since Dec. 4. U.S. gold futures edged 0.1% lower to $2,004.30/Oz.