Gold prices have risen due to expectations of US interest rate cuts.

On Monday, gold prices rose due to expectations of a US interest rate cut by the Federal Reserve. Traders are waiting for inflation readings to confirm the timing of the cut. Spot gold increased by 0.5% to $2,174.51 per ounce, while US gold futures closed up 0.8% to $2,176.4. Weekly initial jobless claims data will be released on Thursday, followed by the announcement of US core personal consumption price index (PCE) data on Friday. Market reaction to the PCE data may only be visible next week due to the Good Friday holiday. Bart Melek, Chief Commodity Strategist at TD Securities, believes that gold prices could reach $2,300 or higher in the second quarter when discretionary traders and exchange-traded fund investors enter the market after the rate cut is confirmed. However, stronger economic data could lead to a pullback in gold prices. Last week, gold prices reached a record high after the Fed reaffirmed its commitment to the gold market.

https://investor.id/market/357519/harga-emas-naik-didorong-ekspektasi-pemangkasan-suku-bunga-as/all

Singapore's February inflation has surged due to the Lunar New Year effect.

In February, Singapore's core inflation rate reached its highest level in seven months at 3.6%. This increase was mainly due to the seasonal impact of the Lunar New Year, resulting in higher prices for services and food. The inflation rate exceeded the Reuters poll forecast of 3.4% and was higher than January's rate of 3.1%. In February, consumer goods prices rose by 3.4% compared to the same period last year, exceeding expectations and January's figure of 2.9%. The Ministry of Commerce and the Monetary Authority of Singapore (MAS) explained that the increase in inflation was mainly due to the seasonal impact of the Lunar New Year. However, MAS predicts that core inflation will gradually decrease throughout the year, in line with import cost pressures and a less restrictive domestic labour market. MAS maintains its forecast for average headline and core inflation of 2.5% to 3.5% by 2024.

https://internasional.kontan.co.id/news/inflasi-singapura-februari-melesat-efek-tahun-baru-imlek
 

Gold prices have risen due to expectations of US interest rate cuts.

On Monday, gold prices rose due to expectations of a possible interest rate cut by the US Federal Reserve. Traders are waiting for inflation readings this week to confirm the timing of the cut. Spot gold increased by 0.5% to reach $2,174.51 per ounce, while US gold futures closed up 0.8% at $2,176.4. Weekly initial jobless claims data will be released on Thursday, followed by the announcement of US core personal consumption price index (PCE) data on Friday. According to Bart Melek, Chief Commodity Strategist at TD Securities, gold prices may reach $2,300 or higher in Q2 once discretionary traders and exchange-traded fund investors enter the market after the rate cut is confirmed. However, stronger economic data could lead to a decline in gold prices. The weakening of the US dollar has made gold more affordable for foreign buyers. Last week, the price of gold reached a record high after the Federal Reserve expressed its commitment to the gold market.

https://investor.id/market/357519/harga-emas-naik-didorong-ekspektasi-pemangkasan-suku-bunga-as/all