PT. Equityworld Futures - Gold
futures fell as rising U.S. consumer prices signaled an approach to the
Federal Reserve’s inflation target, boosting prospects for the first
interest-rate increase since 2006.
The cost of living
excluding food and fuel rose at a faster pace than expected in April,
government data showed Friday. Fed policy makers have indicated they are
watching inflation and the job market to help determine when to lift
borrowing costs. The dollar extended a rally against a basket of 10
currencies after Fed Reserve Chair Janet Yellen said she expects a rate
increase this year if the economy meets her forecasts.
On the Comex in New
York, gold futures fell less than 0.1 percent to settle at $1,204 an
ounce at 1:49 p.m. The metal declined 1.7 percent this week.
Higher rates drive
investors to favor assets that pay interest, including new bonds,
curbing the appeal of gold, which generally offers returns only through
price gains.
Sumber : www.ewfpro.com
