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
948 x 535 px AdobeStock_433552847
Economic Updates
Monthly Economic Update: Fed cuts incoming   
DOWNLOAD
equities-3may23-2
Consensus Pricing
Consensus Pricing – June 2025
DOWNLOAD
Two people discussing a chart on a tablet
Economic Updates
Policy Rate Update: Dovish BSP Narrows IRD 
DOWNLOAD
View all Reports
Metrobank.com.ph How To Sign Up
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 How To Sign Up
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
948 x 535 px AdobeStock_433552847
Economic Updates
Monthly Economic Update: Fed cuts incoming   
June 30, 2025 DOWNLOAD
equities-3may23-2
Consensus Pricing
Consensus Pricing – June 2025
June 25, 2025 DOWNLOAD
Two people discussing a chart on a tablet
Economic Updates
Policy Rate Update: Dovish BSP Narrows IRD 
June 19, 2025 DOWNLOAD
View all Reports
Markets 2 MIN READ

Gold wobbles as sticky inflation drives up US rate hike bets

May 26, 2023By Reuters
Related Articles
Journalist shot dead in "cowardly" killing in Philippines December 9, 2021 Markets now banking on no more Fed hikes March 13, 2023 IMF chief says 'cannot rule out' possible global recession July 6, 2022

May 26 (Reuters) – Gold gave up some gains on Friday and was on course for a third straight weekly loss on the likelihood of a last-minute debt ceiling deal and as a hotter-than-expected US inflation gauge raised bets for rates to stay higher for longer.

Spot gold was up 0.1% at USD 1,943.12 per ounce by 1:40 p.m. EDT (1740 GMT), having risen as much as 0.9% in the session. US gold futures settled mostly flat at USD 1,944.30.

The White House and congressional Republicans aim to put the final touches on a deal to raise the debt ceiling for two years.

Gold hit a two-month low of USD 1,936.59 during Asian trading hours and is set to lose 1.7% for the week.

“Despite positive noises coming from D.C., a debt deal may still be difficult to get through before June 1,” said Tai Wong, a New York-based independent metals trader.

But short-term players expect a deal to be done and “have been selling behind inflation data that suggests a June hike is possible,” Wong added.

The personal consumption expenditures (PCE) price index, which the Federal Reserve tracks for its 2% inflation target, increased 4.4% in the 12 months through April after advancing 4.2% in March.

“The PCE number just kicked one of the legs out on the stool of the gold market … a softer number would have provided the tailwind behind gold,” said Phillip Streible, chief market strategist at Blue Line Futures in Chicago.

Traders are now betting the Fed will deliver an 11th straight rate hike in June, which would erode the attraction of zero-interest-bearing gold.

Benchmark 10-year Treasury yields and the dollar index hovered near their highest levels since mid-March, both on track for their third straight weekly gains.

Spot silver rose 1.9% to USD 23.23 per ounce but was also on track for a third consecutive weekly dip.

Platinum gained 0.2% to USD 1,022.43, while palladium was up 0.6% to USD 1,425.61.

(Reporting by Deep Vakil and Seher Dareen in Bengaluru; Editing by Emelia Sithole-Matarise, Anil D’Silva and Mark Potter)

 

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
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