Commodity Capsule: Brent crude oil edge higher; gold near 5-week low; copper rises | Watch video
Commodity Capsule: The dollar held close to a five-week peak after data overnight showed U.S. retail sales increased more than expected in December.
Commodity Capsule: Gold prices hovered near five-week lows on Thursday, as hawkish remarks from Federal Reserve officials and robust data dampened investors' expectations for deeper and early interest rate cuts in the U.S. this year.
Global gold hovers to the $2,010 per ounce mark – its lowest since Dec. 13.
The dollar has strengthened substantially in the past few days, putting a strain on gold prices.
The dollar held close to a five-week peak after data overnight showed U.S. retail sales increased more than expected in December.
Yields on the benchmark U.S. 10-year Treasury notes also hovered near five-week highs.
Money markets were betting on 142 basis points of Fed rate cuts this year, while pricing in a 61 per cent chance of a March easing
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