Metal Prices Mixed, Gold Gains Ahead of U.S. Inflation Data — Market Talk Copy

Metal prices are mixed, with gold making small gains as the market remains nervous ahead of key U.S. inflation data. Gold futures are up 2% at $2,216.5 a troy ounce. Personal consumption expenditure data–the Federal Reserve’s preferred inflation metric–is set for release on Friday. Meanwhile, a stable dollar and lower U.S. Treasury yields further helped the yellow metal to trade higher Thursday morning, ING analysts say in a note. There are mixed views in the market regarding the U.S. interest rate cuts planned for the year–Chicago Mercantile Exchange data shows that swap markets have now trimmed the probability of a rate cut in June to 60%, from 69% late last week, ING says. Aluminum is broadly flat at $2,304 a ton, while copper is 0.2% lower at $8,846 a ton.