Gold Down, but Remained above the $1,800-Mark

Gold was seen down on Wednesday morning in Asia, but still remained above the $1,800-mark. Investors digested a weaker-than-expected rise in U.S. inflation that added to unpredictability over the start of Federal Reserve’s asset tapering.

As seen in the data from investing.com, gold futures edged down 0.14% to $1,804.65 by 12:24 AM ET (4:24 AM GMT) after hitting a one-week peak of $1,808.50 during the previous session. The dollar, which usually moves inversely to gold, inched up on Wednesday.
With the weaker-than-expected data casting doubt on the U.S. Federal Reserve’s timeline to begin asset tapering, investors now await the central bank’s policy decision, due to be handed down next week.
In other precious metals, silver inched down 0.1% and platinum was down 0.4% after hitting an over nine-month low of $930.85. Palladium was flat at $1,979.16 after prices hit their lowest level since July 2020, or $1,935, during the previous session.