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21 April 2024

Gold's record rally hits pause ahead of US inflation data

Published
By WAM

Gold prices took a breather from a record-breaking rally on Monday, with traders awaiting a key inflation report for fresh clues on the timing of rate cuts.

According to Reuters, spot gold was steady at $2,179.97 per ounce, as of 0731 GMT. US gold futures were also little moved at $2,186.70.

Gold climbed a record peak of $2,194.99 for the fourth straight session on Friday as data signalled to a cooling US labour market.

Spot platinum rose 0.4% to $916.15 per ounce, while palladium was steady at $1,020.06, and silver was up 0.1% to $24.34.