By Pablo Sinha<\/p>\n
Jan 13 (Reuters) – Gold prices were largely steady near its all-time peak on Tuesday, supported by ongoing geopolitical tensions, while investor \u200bcaution ahead of key inflation data limited upside momentum.<\/p>\n
Spot gold traded \u200c0.1% lower at $4,588.43 per ounce as of 0947 GMT, following a record high of $4,629.94 in \u200cthe previous session. U.S. gold futures for February delivery slipped 0.4% to $4,597.50.<\/p>\n
“A modest recovery in the U.S. dollar, driven by hawkish comments from a senior Fed official, and investors\u2019 focus on the release of U.S. CPI data later in the \u2060session acts as a \u200cheadwind (for gold),” said ActivTrades analyst Ricardo Evangelista.<\/p>\n
Federal Reserve Bank of New York President John Williams said on Monday that the \u200dcentral bank does not face any near-term pressure to change the stance of monetary policy.<\/p>\n
Investors are currently anticipating two interest rate cuts this year, with today’s Consumer Price Index \u200bdata expected to provide further clues on monetary policy going forward.<\/p>\n
On the \u200cgeopolitical front, Russian forces launched the year\u2019s most intense wave of missile attacks on Ukraine early on Tuesday, killing four people and injuring several others.<\/p>\n
Meanwhile, U.S. President Trump said on Monday any country that does business with Iran will face a 25% tariff on trade with the United States.<\/p>\n
Non-yielding assets \u2060tend to do well in a low-interest-rate environment \u200band when geopolitical or economic risks spike.<\/p>\n
“With (gold) \u200bprices consolidating above the $4,500 level, supported by a bearish outlook for the dollar and ongoing geopolitical uncertainty, the $5,000 mark appears increasingly \u200dwithin reach and could \u2060be tested in the first half of the year,” Evangelista added.<\/p>\n
Elsewhere, spot silver gained 0.7% at $85.57 per ounce after hitting an all-time high \u2060of $86.22 on Monday.<\/p>\n
Spot platinum lost 0.5% to $2,332.40 per ounce after scaling a record peak of $2,478.50 \u200con December 29.<\/p>\n
Palladium slid 1.1% to $1,822.37 per ounce.<\/p>\n
(Reporting by Pablo Sinha \u200cin Bengaluru; Editing by Sharon Singleton)<\/p>\n","protected":false},"excerpt":{"rendered":"By Pablo Sinha Jan 13 (Reuters) – Gold prices were largely steady near its all-time peak on Tuesday,…\n","protected":false},"author":2,"featured_media":235555,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[127766,5275,42,43,127765,40,38,41,39],"class_list":{"0":"post-235554","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-headlines","8":"tag-data-limited-upside","9":"tag-gold-prices","10":"tag-headlines","11":"tag-news","12":"tag-ricardo-evangelista","13":"tag-top-news","14":"tag-top-stories","15":"tag-topnews","16":"tag-topstories"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/235554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=235554"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/235554\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/235555"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=235554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=235554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=235554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}