Gold Prices Retreat as US Data Dampen Rate Cut Expectations
TL;DR Summary
Gold prices surged to a record high above $2,350 an ounce before retreating, as investors turned their attention to upcoming US inflation data and the potential impact on Federal Reserve interest rate decisions. The Fed is expected to cut rates this year, but is awaiting further evidence of easing inflation before making a move, with higher rates generally being unfavorable for gold due to its lack of interest payments.
- Gold Retreats as Robust US Data Dampen Rate Cut Expectations Bloomberg
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- Gold aims at new high. UBS boosts forecasts, sees ETF buying as next catalyst. MarketWatch
- Gold Price Forecast: 30% Upside As Fed Cuts Interest Rates, Rosenberg Says Markets Insider
- Gold climbs to new record before pivotal US inflation print Yahoo Finance
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