Precious Metal Market
Gold prices edged lower on Friday, but were headed for a third straight week of gains as cooler-than-expected U.S. inflation data boosted hopes of the Federal Reserve cutting interest rates in September.
Gold prices extended gains on Friday to their highest level in a month following key U.S. jobs data the showed labor market was softening, lifting expectations around a Federal Reserve interest rate cut in September.
Gold prices edged up on Friday and were set for a second straight weekly gain, while traders awaited U.S. employment data to gauge the trajectory of the Federal Reserve’s potential interest rate cuts.
Gold prices drifted higher on Thursday after softer-than-expected U.S. economic data fueled hopes that the Federal Reserve could cut interest rates as soon as September.
Gold prices edged lower on Tuesday as Treasury yields held firm, while investors digested comments from Federal Reserve Chair Jerome Powell and looked forward to U.S. jobs data due later this week for more signals on U.S. interest rate cuts.
Gold prices edged higher on Monday, buoyed by some short covering from investors with focus turning to U.S. jobs data due later this week that could offer more cues around interest rate cuts by the Federal Reserve.
Gold prices steadied on Friday after a key U.S. inflation report was broadly in line with expectations, boosting hopes that the Federal Reserve could cut interest rates by September.
Gold prices rose more than 1% on Thursday from the over two-week low touched in the previous session, as the dollar softened and the spotlight shifted to key U.S. inflation data for clues on the Federal Reserve’s policy path.
Gold prices steadied on Thursday after falling to a two-week low in the previous session, while investors awaited U.S. inflation data for insights into how soon the Federal Reserve will cut interest rates.
Gold prices were subdued on Wednesday ahead of crucial U.S. inflation data due this week, which could offer more clarity on the timing of the Federal Reserve’s first interest rate cut this year.
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