MTECHTIPS:-Gold starts the week a touch lower; U.S. inflation data

MTECHTIPS:-Gold starts the week a touch lower; U.S. inflation data awaited

MTECHTIPS-Gold prices edged lower on Monday, as market players looked ahead to monthly inflation indicators due later in the week for fresh clues on the timing of the next Federal Reserve rate hike. A report on U.S. producer prices for July is due out on Thursday and the consumer price inflation report will be released on Friday. Besides the inflation data, this week’s calendar also features reports on JOLTS job openings, nonfarm productivity, unit labor costs and weekly jobless claims. Investors will also keep an eye out on a number of Fed speakers for any new insight on when and how the central bank plans to pare back its massive balance sheet. Monday sees St. Louis Fed President James Bullard and Minneapolis Fed President make public appearances. Influential New York Fed President William Dudley speaks on Thursday. Markets remain skeptical the Fed will raise rates in December, according to Investing.com’s Fed Rate Monitor Tool, due to worries over the subdued inflation outlook, but it is widely expected to start the process of reducing its balance sheet by September
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