Gold prices remain stable as investors await US economic data, potentially influencing Fed rate decision and September rate cut likelihood.
Gold prices remained stable on Monday as investors awaited US economic data, potentially influencing the Federal Reserve's interest rate decision. The US inflation data in April indicated stabilisation, increasing the likelihood of a rate cut in September. Gold, often considered an inflation hedge, may experience fluctuations depending on the outcome of upcoming economic data releases, including the Institute of Supply Management's nationwide PMI reading and non-farm payrolls data. The odds of the Federal Reserve easing interest rates in September have slightly increased.
June 03, 2024
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