Gold Price Flat Ahead Of Fed Talk
London (Nov 16) The DJIA futures edged up 60 points after yesterday's 138 point decline, limiting gold's safe haven appeal.
Gold was also dented by renewed expectations the Federal Reserve will raise interest rates in December. Core inflation rose toward the Fed's 2% target last month, official data revealed yesterday.
Dec. gold was down 20 cents at USD1277 an ounce, having bounced between USD1270 and USD1280 for much of the month.
In addition to jobless claims data, the Fed's Industrial Production Index for October will be published at 9.15 am ET.
National Association of Home Builders/Wells Fargo's Housing Market Index for November will be published at 10.00 am ET. The consensus is for 67, compared to 68 a month ago.
This is an exiting day for Fed watchers. Cleveland Federal Reserve Bank President Loretta Mester will give keynote address at Cato Institute's 35th Annual Monetary Conference: The Future of Monetary Policy, in Washington at 9.10 am ET.
Dallas Federal Reserve Bank President Robert Kaplan to participate in moderated Q&A at "CFA Society Houston" in Houston, with audience and media Q&A at 1.10 pm ET.
Federal Reserve Governor Lael Brainard to deliver keynote remarks at FinTech Risks and Opportunities: An Interdisciplinary Approach at University of Michigan Law School in Ann Arbor, Michigan at 3.45 pm ET.
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