Gold Inches Down As Stocks Show Sign Of Life

April 9, 2018

London (Apr 9)  Gold prices were slightly lower Monday morning as mixed readings on US inflation have generated a murky outlook for interest rates.

Also, Friday's mixed jobs report will do little to clarify the situation.

The Fed has projected three rate hikes in 2018, but the stock market is doing badly and inflation has been mostly tepid, so there may be little reason to tighten monetary policy.

With little first tier-economic data on tap Monday, traders were keeping an eye on volatile US stocks.

Stocks were set to open a bit higher. rebounding from Friday's drubbing.

With gold's safe haven appeal diminished somewhat, June gold was down USD4.40 at USD1331/oz.


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