Gold prices firmed near one-month highs on Thursday as a fresh set of soft U.S. data added to expectations that the Federal Reserve will pause rake hikes this year, although inflation readings due later in the day could amend this outlook.
Spot gold was up 0.2% at $1,945.40 per ounce by 0331 GMT. U.S. gold futures steadied at $1,972.40.
Despite this week’s gains, bullion is on track for a monthly decline of nearly 1% as the U.S. dollar eyes its first monthly rise in three and U.S. Treasury yields are poised for their fourth straight monthly climb having reached 2007 levels last week.
Source: CNBC
