Gold Inches Higher Despite Mester Comments
Gold futures are slightly higher Tuesday morning, as U.S. stocks were off to a rough start after yesterday’s rebound.
In a day a first-tier economy is deprived of the data, a spokesman for the Federal Reserve was again in the focus of the traders.
Cleveland Fed President Mester said she sees inflation gradually to the 2% target over the next one to two years. This means that the Fed should raise rates, the pace of “similar” in the last year, increases of three modest interest rate, she added.
Gold was the Ls trim, up $4 to $1330 per ounce, more-week decline. The gold price is relatively stable, while the last collpse in US equities. The precious metal in times of economic uncertainty or market fluctuation is assessed.