The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
DOWNLOAD
grocery-2-aa
Economic Updates
Inflation Update: BSP poised for a string of rate cuts as inflation cools
DOWNLOAD
View all Reports
Metrobank.com.ph Contact Us
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investing for Beginners: Following your PATH
  • On government debt thresholds: How much is too much?
  • Philippines Stock Market Outlook for 2022
  • No Relief from Deficit Spending Yet

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph Contact Us
Access Exclusive Content Login to Wealth Manager
Search
The Gist
News and Features
Global Philippines Fine Living
Insights
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
Webinars
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
Downloads
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
May 8, 2025 DOWNLOAD
investment-ss-3
Economic Updates
Policy rate views: Uncertainty stalls cuts
May 8, 2025 DOWNLOAD
grocery-2-aa
Economic Updates
Inflation Update: BSP poised for a string of rate cuts as inflation cools
May 6, 2025 DOWNLOAD
View all Reports
Markets 2 MIN READ

Gold struggles for traction on doubts about Fed pause

July 17, 2023By Reuters
Related Articles
US yields rise as investors brace for volatility, await more Trump policies January 23, 2025 FOREX-Dollar at 2-decade high as CPI keeps aggressive U.S. rate hikes likely May 12, 2022 All bow to the mighty dollar April 1, 2024

July 17 (Reuters) – Gold prices were little changed on Monday, with bullion traders still doubtful about whether the Federal Reserve may soon signal an end to its monetary tightening path.

Spot gold was steady at USD 1,953.91 per ounce at 1:42 p.m. EDT (1742 GMT). US gold futures settled 0.4% lower at USD 1,956.40.

The dollar hovered near a more than one-year low, making gold less expensive for other currency holders.

“(Gold) investors at this point are quite reluctant to go fully bullish despite last week’s inflation data,” said Bart Melek, head of commodity strategies at TD Securities.

Bullion posted its biggest weekly gain since April last week on bets that the Fed could pause rate hikes after July after US data hinted at a disinflationary trend as consumer prices grew at their slowest pace in over two years.

Traders largely expect the central bank to hike rates in its July 25-26 meeting.

“Gold is likely to be under pressure as the US economy continues to be quite firm, particularly on the employment front. In my view it is very unlikely that the Fed is going to commit to a tilt towards a more dovish policy stance,” Melek added.

Higher interest rates dull gold’s allure as they increase the opportunity cost of holding the non-yielding asset.

Investors also took stock of data from China that showed the top bullion consumer’s economy grew at a frail pace in the second quarter.

Silver fell 0.5% to USD 24.82 per ounce.

“While sentiment may be good towards silver investment, industrial applications retain the majority of market share,” Heraeus analysts wrote in a note.

“An improvement in activity in China and Europe may be needed to see the (silver) price rise much further in the second half of 2023.”

Platinum rose 0.6% to USD 977.42 and palladium gained 1.2% to USD 1,286.13.

(Reporting by Ashitha Shivaprasad in Bengaluru; Editing by David Holmes and Andrea Ricci)

 

This article originally appeared on reuters.com

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks Model Portfolio
Others
Contact Us Privacy Statement Terms of Use
© 2025 Metrobank. All rights reserved.

Read this content. Log in or sign up.

​If you are an investor with us, log in first to your Metrobank Wealth Manager account. ​

If you are not yet a client, we can help you by clicking the SIGN UP button. ​

Login Sign Up