Gold rally pauses as focus shifts to US economic data
Real rates outlook to drive gold longer term- ANZ analyst
US nonfarm payrolls data due on Friday
Updates as of 1146 GMT
By Ashitha Shivaprasad
Oct 2 (Reuters) -Gold eased on Wednesday, taking a breather after rallying in the last session on an escalation in the Middle East conflict, while traders waited for more clues on U.S. interest rates.
Spot gold XAU= was down 0.5% at $2,650.89 per ounce by 1146 GMT, following a jump of more than 1% on Tuesday after Iran launched missile strikes on Israel.
U.S. gold futures GCcv1 eased 0.7% to $2,672.00.
Reining in gold's run was strength in the rival safe-haven dollar. USD/
"Gold is just seeing some short-term pressure due to a stronger dollar but the environment remains extremely favourable for gold," said Kinesis Money market analyst Carlo Alberto De Casa.
Gold was still within sight of recent highs on fears of further escalation in the Middle East, including retaliation by Israel.
Longer term, the outlook for real interest rates is going to drive gold, Daniel Hynes, senior ANZ commodities strategist said in a note.
Bullion's 28% rally so far this year has been driven in part by the Fed's monetary easing, which enhances the relative appeal for zero-yield gold.
Traders see a 38% chance of a 50 bps cut from the Fed in November. FEDWATCH
They will keep a close eye on data, including U.S. ADP employment figures later in the day and Friday's nonfarm payrolls, while also scanning commentary from Fed officials on Wednesday.
"If the data comes in weak and raises chances of a 50 basis point cut in November, gold could see record prices again," De Casa added.
Silver XAG= rose 0.1% to $31.44.
"Supported by a stabilising industrial metal sector, silver could potentially do even better (than gold), not least considering its relative cheapness to gold, which could see it take aim at $40 next year," Saxo Bank said in a note.
Platinum XPT= gained 0.8% to $993.87 and palladium XPD= added 1.2% to $1,006.51.
Spot gold price in USD per oz https://reut.rs/3TQ09aU
Reporting by Ashitha Shivaprasad in Bengaluru. Editing by Jane Merriman and Vijay Kishore
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
