Gold holds steady on caution over US debt talks
Gold prices remained unchanged as the US government debt ceiling discussions ended with no productive decision. Meanwhile, investors are assessing the possibility of additional interest hikes by the Federal Reserve. U.S. job market tightening and escalating wages are impacting inflation, increasing the rate of growing prices. Research conducted by former senior economists from the Federal Reserve and International Monetary Fund concluded that the demand for labor must be better-balanced to avoid price embedding. The Japanese economy showed signs of improvement through the Reuters Tankan poll.
Gold prices remained unchanged as the US government debt ceiling discussions ended with no productive decision. Meanwhile, investors are assessing the possibility of additional interest hikes by the Federal Reserve. U.S. job market tightening and escalating wages are impacting inflation, increasing the rate of growing prices. Research conducted by former senior economists from the Federal Reserve and International Monetary Fund concluded that the demand for labor must be better-balanced to avoid price embedding. The Japanese economy showed signs of improvement through the Reuters Tankan poll.
