Latest news with #U.S.ConsumerPriceIndex
Time of India
12-06-2025
- Business
- Time of India
Gold prices edge down as traders monitor US-China talks
Gold prices edged lower on Tuesday as traders closely monitored U.S.-China talks, the outcome of which could simmer down trade tensions and boost the global economy, lessening demand for safe-haven assets, while a rising U.S. dollar added pressure. Spot gold fell 0.1% to $3,324.55 an ounce as of 1402 EDT (1802 GMT) and U.S. gold futures settled 0.3% lower at $3,343.40. The dollar index rose 0.2% against its rivals, making gold more expensive for other currency holders. USD/ "Over the last several sessions, we've seen gold retrace a bit off the recent highs, mostly done on the back of optimism in regards to the expectations of negotiations between China and the U.S., UK and Russia," said David Meger, director of metals trading at High Ridge Futures. U.S. Commerce Secretary Howard Lutnick said the talks with China were going well and expected to last all day as the two sides met for a second day in London, seeking a breakthrough on export controls that have threatened a fresh rupture between the superpowers. A trade deal could dampen gold's appeal as a safe haven, since it tends to thrive amidst geopolitical and economic uncertainty as a store of value. "(Investors are) waiting for a pullback to happen, like around $3,100 an ounce, but right now it's just wait and see on what comes out of the China talks," said Bob Haberkorn, senior market strategist at RJO Futures. Investors are also keenly awaiting U.S. Consumer Price Index data on Wednesday. Spot silver was down 0.5% to $36.53 per ounce. Platinum eased 0.5% to $1,213.08, after hitting its highest level since May 2021. Palladium lost 1.2% to $1,061.85. "The rally in platinum has been supported by a combination of supply concerns, speculative interest and a broader uplift across the precious metals complex," said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany. "Palladium is lagging primarily due to its narrower demand base and weaker investment appeal."
Yahoo
11-06-2025
- Business
- Yahoo
BNB Pushes Higher Despite Market Turbulence, Testing Resistance Near $674
Binance's BNB token moved higher in the last 24 hours, defying broad market unease driven by geopolitical and economic crosswinds. The coin gained 1.75%, rising from $659.72 to $670.91, as investors monitored resistance levels near $674 for signs of a breakout. The token's performance comes amid the backdrop of a U.S. Consumer Price Index (CPI) report showing inflation came in lower than expected in May, boosting risk asset prices, with the S&P 500 moving up 0.3% in today's session so far, and the NASDAQ rising 0.4%. Meanwhile, CoinDesk 20, a broader digital assets market gauge, rose 2.6% in the last 24 hours. BNB has been posting higher lows that suggest accumulating interest even as volatility persists. Bitcoin, the market's bellwether, is hovering around $109,800 after bouncing back from last week's retreat. On-chain data shows growing wallet activity consistent with accumulation phases, hinting that long-term holders may be taking advantage of dips. BNB traded within a narrow $8.12 range on the day, with buying pressure being strongest between 06:00 and 12:00 UTC, according to CoinDesk Research's technical analysis data model. Volume during this window exceeded the 24-hour average of 41,757 tokens, supporting the upward move. Despite testing resistance around $673.67 several times without success, the token held support near $667.50. A sharp two-minute correction at one point briefly knocked the price from $669.87 to $667.35 on heavy volume. However, it quickly stabilized, potentially suggesting the sell-off lacked conviction. BNB is now floating above $670, maintaining a bullish structure defined by higher lows. Traders now look for a clean break above $674 for a potential signal for the next leg higher. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
International Business Times
11-06-2025
- Business
- International Business Times
Gold Climbs on Softer Inflation Data as Fed Rate Cut Hopes Rise
A recent shift in sentiment across financial markets has offered some relief to investors who have been grappling with inflation concerns. Gold prices climbed on Wednesday after softer-than-expected U.S. inflation data weakened the case for an immediate interest rate hike. For many investors, the move comes as a breath of fresh air following weeks of uncertainty over when the Federal Reserve will take its next step. Spot gold gained 0.5% to $3,337.49 per ounce by 09:09 ET (1309 GMT), after earlier rising as much as 1%. U.S. gold futures followed suit, rising 0.5% to $3,358.80. The catalyst? A surprise U.S. Consumer Price Index (CPI) cooling in May. The CPI rose a mere 0.1% last month, lower than expected, to show a 2.4% annual increase, slightly below April's 2.5% forecast. Analysts quickly responded. "The unexpectedly soft core CPI print lifted the entire precious metals complex upward, with further help from lower Treasury yields and a weaker dollar," said independent metals trader Tai Wong. The inflation figures have fanned expectations that the U.S. Federal Reserve might finally cut interest rates, perhaps as soon as next month. The market is now pricing in a 68% chance of a September rate cut, up from less than 50% earlier. The latest developments in U.S.-China trade talks have led to positive investor sentiment. President Donald Trump announced a tentative deal with China over critical supplies, among them rare earth magnets. China is likely to deliver these items, and the U.S. will still let Chinese students attend its universities. While the day had yet to receive official confirmation from governments in both countries, the statement was read as an encouraging sign by global markets. All eyes are now on the U.S. Producer Price Index (PPI), due on Thursday. The next meeting of the Federal Reserve is scheduled for June 17–18, and the PPI numbers will continue to shape perceptions of interest rate policy. However, the overall sentiment for precious metals is still cautious. "The market wants gold and silver to penetrate key levels—$3,403 and $36.90, respectively—to trigger the continuation of a bullish trend," Wong said. "Failing to mount that in firm data could point toward a short-term pullback." Spot silver fell 0.7% to $36.32 per ounce, while other precious metals were lower too. Platinum jumped 3.8 percent to $1,268.12, a three-year high, and palladium rose 1.1 percent to $1,072.25.
Yahoo
11-06-2025
- Business
- Yahoo
Markets hold steady as inflation data cools rate hike fears
Markets hold steady as inflation data cools rate hike fears originally appeared on TheStreet. The May CPI report came in softer than expected, offering a reassuring signal for markets. The second month-over-month headline inflation increase was only 0.1% compared to the expected increase of 0.2%. The core CPI (excluding food and energy) was also up only 0.1%, below this month's expected increase of 0.3%. All of the above was on a year-over-year basis, headline CPI was reported at 2.4%, which was exactly where it was expected, while Core CPI was 2.8% year-over-year, just below the expected 2.9%. The weak core implies moderating underlying price pressures and could give the Fed some cover to cut rates if necessary later this year. Global markets were on the edge of their seats with only minutes to go until the release of the U.S. Consumer Price Index (CPI) for May. According to analysts at 10x Research, although today's data will be the first to account for the effects of President Donald Trump's re-imposition of tariffs, they expect a "flat or modestly higher" CPI, which should minimize concerns about a significant uptick in inflation. While there were initial concerns that companies would pass the tariffs on to consumers, it now seems likely that companies will absorb the costs associated with the tariffs. Although they are likely to have considerable inventory, stockpiling has not yet elevated prices. "For the bearish narrative to regain traction, a new catalyst is needed," they claim. According to Bitunix analysts, it could be a pivotal time for crypto. If inflation surprises on the upside, Bitcoin could test support at $106,000. At the other end, if inflation comes in 'cooler' than expected, Bitcoin prices could see resistance at $110,350. 'Short-term movements will remain event-driven,' they say, with the market largely awaiting signals from the Fed around interest rate policy. Bitcoin is currently trading at $109,225, unchanged for the day, while Ethereum trades at $2,766.83 and Solana has gained 2.2% to $164.22 in the last 24 hours. The total crypto market cap is $3.56 trillion, down 1.4% during the previous 24 hours. With CPI expectations 'finely tuned' and the Fed expected to remain on the sidelines, traders are preparing for volatility. But until a stronger inflation print—or a new macro catalyst—emerges, markets may remain in consolidation mode. Markets hold steady as inflation data cools rate hike fears first appeared on TheStreet on Jun 11, 2025 This story was originally reported by TheStreet on Jun 11, 2025, where it first appeared.
11-06-2025
- Business
Inflation ticked slightly higher in May amid Trump tariffs
The U.S. Consumer Price Index released on Wednesday showed May inflation ticking slightly higher, rising 2.4%, in line with expectations. ABC News' Alexis Christoforous reports.
