Gold near $4,200.23 as investors await US CPI and PPI
Business
Gold prices barely budged on Monday, sticking close to a one-week high at $4,200.23 an ounce.
Investors are waiting for new US inflation data (CPI and PPI reports), since those numbers could shape what the Federal Reserve does next with interest rates.
US rate outlook cools gold appeal
Rising interest rates have made gold a bit less appealing lately. The US central bank just bumped rates up in September.
There's only an 18% chance of another hike this month, but that could jump to 84% by December.
With living costs rising (thanks in part to Middle East tensions), consumer confidence has dipped.
Meanwhile, silver and platinum ticked up slightly, but palladium saw the biggest gain among precious metals.