Gold prices reached a two-week high due to weak US economic data, dovish central banks, and geopolitical tensions.
Gold prices rose to a two-week high, fueled by factors including disappointing US economic data, dovish central bank stances, and heightened geopolitical tensions. The US dollar's strength, driven by risk aversion and low US Treasury bond yields, has weighed heavily on gold prices. Key economic data, including PCE inflation and comments from Federal Reserve officials, will provide further insights into potential interest rate adjustments, affecting the gold market.
June 24, 2024
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