Gold prices react to Federal Reserve's hawkish stance and U.S. economic data.

The World Gold Council has advised investors to continue viewing gold as a strategic asset despite the Federal Reserve's hawkish stance. The council's head market strategist for the Americas, Joseph Cavatoni, said that while the Fed's aggressive monetary policy stance will create additional uncertainty for the global economy, gold will continue to struggle in the near term as the Fed maintains elevated interest rates. However, gold remains a strategic asset to hold against potential financial market risks. The WGC maintains its view that the US economy will likely see a mild recession this year.