Gold prices held steady on Tuesday as the dollar eased, while investors looked forward to key U.S. inflation data that could offer clues on how soon the Federal Reserve can cut interest rates. Spot gold held its ground at $2,349.89 per ounce, as of 0600 GMT, after rising about 1% in the previous session. U.S. gold futures were up 0.7% at $2,350.70.
Gold prices inched down but hovered above key $2,400 level on Wednesday, while investors await minutes from the Federal Reserve s latest policy meeting for fresh signals on the timing of U.S.. -May 22, 2024 at 01:55 am EDT
- MarketScreener
Gold prices touched a record high on Monday as recent economic data boosted bets for interest rate cuts by the U.S. Federal Reserve, while silver followed suit and surged to a more than 11-year high. Spot gold rose 1% to $2,438.41 per ounce, as of 0852 GMT, after hitting a record high of $2,449.89 earlier in the session. Data showed that U.S. consumer prices increased less than expected in April, suggesting that inflation resumed its downward trend in a boost to expectations for a September interest rate cut.
Gold prices appeared set for a second consecutive weekly gain on Friday, after recent U.S. inflation data fuelled expectations that the Federal Reserve could cut interest rates twice this year,. -May 17, 2024 at 03:06 am EDT
- MarketScreener
Gold prices inched up on Thursday following a sharp rise in the last session as the dollar and bond yields weakened on the increasing likelihood of rate cuts by the U.S. Federal Reserve as early.