Gold prices hold ground as traders eye Fed cues
China's central bank added 60,000 troy ounces of bullion to its reserves in April, official data showed on Tuesday, extending the period of consecutive purchases to 18 months.
were steady on Wednesday, while market participants awaited fresh cues from officials for further clarity on the timeline for potential .FUNDAMENTALS
* Spot gold held its ground at $2,314.29 per ounce, as of 0037 GMT. U.S. gold futures lost 0.1% to $2,322.90.
* Lower rates raise the allure of holding . Markets are currently seeing a 65% chance of a U.S. in September, as per 's FedWatch Tool.
* Meanwhile, President said on Tuesday that stalled inflation buoyed in part by housing market strength means the U.S. will need to hold borrowing costs steady for an "extended period," and possibly all year.
* added 60,000 troy ounces of bullion to its reserves in April, official data showed on Tuesday, extending the period of consecutive purchases to 18 months.
* Holdings of , the world's largest gold-backed exchange-traded fund fell 0.21% to 830.47 tons on Tuesday from 832.19 tons on Monday.
* The U.S. said negotiations on a should be able to close the gaps between and Hamas while Israeli forces seized the main border crossing in Rafah on Tuesday.
* A key measure of has resumed its climb as global debt hit a record high of $315 trillion in the first quarter of the year, fuelled by borrowing in emerging markets, the United States and Japan, a study showed.
* Spot silver fell 0.1% to $27.25 per ounce, platinum gained 0.5% to $981.10 and palladium rose 0.4% to $974.59.
* Lower rates raise the allure of holding . Markets are currently seeing a 65% chance of a U.S. in September, as per 's FedWatch Tool.
* Meanwhile, President said on Tuesday that stalled inflation buoyed in part by housing market strength means the U.S. will need to hold borrowing costs steady for an "extended period," and possibly all year.
* added 60,000 troy ounces of bullion to its reserves in April, official data showed on Tuesday, extending the period of consecutive purchases to 18 months.
* Holdings of , the world's largest gold-backed exchange-traded fund fell 0.21% to 830.47 tons on Tuesday from 832.19 tons on Monday.
* The U.S. said negotiations on a should be able to close the gaps between and Hamas while Israeli forces seized the main border crossing in Rafah on Tuesday.
* A key measure of has resumed its climb as global debt hit a record high of $315 trillion in the first quarter of the year, fuelled by borrowing in emerging markets, the United States and Japan, a study showed.
* Spot silver fell 0.1% to $27.25 per ounce, platinum gained 0.5% to $981.10 and palladium rose 0.4% to $974.59.
