Gold Price Stuck In Doldrums Near USD1225
Washington (May 9) Gold futures were flat Tuesday morning, unable to trim recent losses ahead of a trio of Federal Reserve speakers. Markets expect clarity on whether the Fed will raise interest rates in June, having held steady in May.
June gold was down USD2 at USD1,224 an ounce, near its lowest since March.
In economic news, the National Federation of Independent Business said its monthly small business sentiment gauge ticked down 0.2 points to a reading of 104.5. The result was roughly in line with estimates.
The Commerce Department's Wholesale Trade data for March will be issued at 10.00 am ET. The consensus is for growth of 0.2%, while it grew 0.4% in the previous month.
Minneapolis Federal Reserve Bank President Neel Kashkari will deliver remarks at the MN High Tech Spring Conference in Minneapolis, with audience Q&A at 9.00 am ET.
Boston Federal Reserve Bank President Eric Rosengren speaks at the NYU Stern School of Business in New York, New York at 1.00 pm ET.
Dallas Federal Reserve Bank President Robert Kaplan speaks and has audience and media Q&A at 4.15 pm ET.
Source: AllianceNews
