MARKET NEWS
Gold Eases from Record as Traders Mull Rates; Silver Tops $89 - BLOOMBERG
(Bloomberg) -- Gold eased from a record high as traders assessed the path of US interest rates after an inflation reading came in weaker than expected and the Trump administration renewed attacks on the Federal Reserve. Silver topped $89 an ounce before paring some of the advance.
Bullion traded just above $4,600 an ounce after earlier surging to a fresh peak of $4,634.55. The dollar rose further after underlying US inflation in December was not as high as feared, supporting the case for the Fed to lower interest rates later in the year. Swap traders continued to all-but-fully price in a Fed rate cut by the June policy meeting, with some chance of an earlier move but minimal odds of action at the Jan. 28 meeting.
