Precious Metals Preview: Gold and silver futures linger around two-month lows
Mumbai, Oct. 1 -- COMEX gold and silver futures are staying on the sidelines, near a 2-month low on Thursday morning in Asia after a spike late yesterday as Federal Reserve (Fed) rate hike expectations eased following softer-than-expected United States (US) inflation data. The cooling inflation expectations were driven by August US PCE price index data, which rose 0.3% against a 0.4% forecast, while core PCE increased 0.2%, missing the 0.3% consensus estimate. On an annual basis, headline PCE inflation decelerated to 3.4%, coming in well below the expected 3.7%. Nevertheless, elevated oil prices and Treasury yields continue to offset the support from lower rate-hike odds. The yellow metal is currently quoting under $4200 mark while silver i...
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