Gold prices drift higher at start of busy week
Gold prices drifted higher at the start of a busy week, as investors looked ahead to key U.S. economic reports to gauge how it will impact the Federal Reserve's view on monetary policy in the months ahead. Market players will keep an eye out on a few U.S. economic reports, with Wednesday's inflation data in the spotlight, for fresh clues on the likely trajectory of monetary policy. Besides the inflation report, this week's calendar also features U.S. data on retail sales, producer prices, building permits, housing starts, industrial production, as well as surveys on manufacturing conditions in the Philadelphia and New York regions. Meanwhile, comments from a clutch of Fed policymakers, including Chair Janet Yellen, will also be on the agenda. The U.S. central bank is scheduled to hold its final policy meeting of the year on Dec. 12-13, with interest rate futures pricing in a 100% chance of a rate hike at that meeting.
(Source: Investing)
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