Sumber: Reuters | Editor: Wahyu T.Rahmawati
KONTAN.CO.ID - NEW YORK. Gold prices ticked lower for the seventh straight session on Tuesday, slipping to a seven-month low on a stronger dollar and prospects of a hawkish Federal Reserve stance, while attention turned to U.S. job openings data.
Spot gold was down 0.2% at $1,824.79 per ounce at 9:36 a.m. EDT (1336 GMT), to its lowest since early March.
U.S. gold futures shed 0.4% to $1,840.10 per ounce.
"Gold is under tremendous amount of pressure from the higher for longer stance on rates. It looks like rate cuts are not happening any time soon," said Edward Moya, senior market analyst at OANDA.
Fed officials say monetary policy will need to stay restrictive for "some time" to bring inflation down to the its 2% target, but their unity around that phrase masks an ongoing debate over another possible rate hike this year.
Higher interest rates raise the opportunity cost of holding bullion, which is priced in dollars and does not yield interest.
The dollar climbed to a more than 10-month peak, while Treasury yields hung near 16-year highs. US/]
Data on Monday showed U.S. manufacturing took a step further towards recovery in September as production picked up and employment rebounded.
"The surprisingly strong U.S. economy and the rather low likelihood of a U.S. recession are weighing on safe-haven demand," said Julius Baer analyst Carsten Menke.
"We reiterate our 12- month target of $1,725 per ounce and remain cautious on gold."
The U.S. Labor Department's Job Openings and Labor Turnover Survey (JOLTS) report is expected at 1400 GMT. September non-farm payrolls data is due on Friday.
Spot silver was flat at $21.07 per ounce, after touching a 6-1/2-month low earlier in the session. Platinum fell 0.3% to $874.41.
Palladium slipped 1.9% to $1,178.22.
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