Gold steady as market awaits more US data
1 week ago

Gold steady as market awaits more US data

Live Mint  

Jan 7 - Gold prices held its ground on Tuesday, with investors awaiting more economic data later this week for cues on the Federal Reserve's interest rate trajectory for this year. * The benchmark 10-year Treasury yield hit the highest since May 2024 on Monday and the U.S. dollar was lower after conflicting reports about how aggressive President-elect Donald Trump's tariff plans could be when he takes office. * Trump on Monday denied a newspaper report that said his aides were exploring tariff plans that would only cover critical imports, deepening uncertainty among business leaders about future U.S. trade policies. * Several leading economists have coalesced around the view that Trump's plans to broaden tariffs, cut taxes and curb immigration may not prove as inflationary as analysis had suggested earlier.

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