Gold stalls as investors look for direction from Fed, inflation data
New York (Dec 8) - Gold prices were little changed on Wednesday, with a subdued dollar offsetting firmer U.S. Treasury yields, as investors squared positions in the run-up to U.S. consumer prices data this week.
Spot gold was nearly flat at $1,783.50 per ounce by 10:11 a.m. ET, retreating from the session's peak of$1,792.90.
U.S. gold futures fell 0.1% to $1,783.00.
"The only pressure that gold is getting is rising Treasury yields, but the upside on yields is fairly limited," said Phillip Streible, chief market strategist at Blue Line Futures in Chicago.
Gold was anchored at $1,780-$1,800 an ounce, awaiting cues from the U.S. Federal Reserve and U.S. Consumer Price Index data, Streible added.
Reuters
