Gold Asian market: Gold prices rebounded slightly from one-month lows US CPI pulls the heartstrings of the market Provider Investing.com

Investing.com – On Tuesday (24th) Asian afternoon session, the price of gold rose slightly from a one-month low, but before the release of US consumer inflation data}, the increase is expected to be limited, and the market is worried about inflation May be higher than expected, supporting the Fed to raise interest rates further.

Analysts expect that although the CPI in the United States will slow down further in January than in December, it will remain at a relatively high level, which may provide enough impetus to the Fed to maintain its hawkish stance.

In 2022, a rise hit gold prices as high interest rates raise the opportunity cost of holding non-yielding assets. While gold has been given a respite in the first few weeks of 2023, its recent gains have been reversed as concerns about a hawkish Federal Reserve mount.

A surge in short-term U.S. Treasury yields and a one-month high against a basket of currencies have also weighed on gold prices in recent sessions.

As of 13:57 Beijing time (00:57 a.m. Eastern Time), Investing.com Commodity Markets showed that it rose $5.42, or about 0.29%, to $1,858.87 per ounce; the price rose $5.45, or about 0.29%. , at $1,868.95 an ounce.

In other precious metals, it fell 0.17% to $959.05 an ounce, while rising 0.53% to $21.968 an ounce.

Among industrial metals, copper prices eased after a strong rise in the previous session, as traders continued to weigh the prospect of a recovery in Chinese demand against the risk of a global recession this year.

It fell 0.01% to $4.0602 a pound, having rebounded more than 1% in the previous session. Recent Chinese economic data has sent a rare mixed signal, while worries about a slowdown in other major world economies have hampered the rally, especially slowing industrial activity in the United States and the euro zone.

[This article is from Yingwei Caiqing Investing.com, to read more, please log in to cn.investing.com or download Yingwei Caiqing App]

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Compiler: Liu Chuan