Gold News – 14.Jun.2024

Gold News

Gold prices rose by 0.4% to $2,311.39 per ounce on Friday.

U.S. gold futures increased by 0.4% to $2,326.40.

Gold is set for its first weekly gain in four weeks, with a 0.5% increase so far.

U.S. economic data indicates softening price pressures.

Optimism is growing about a potential Federal Reserve rate cut.

Market expects two interest rate cuts this year due to softening inflation.

Probability of a September rate cut is 67%, up from 63% before recent producer prices data.

U.S. producer prices unexpectedly fell in May, signaling subsiding inflation.

Recent CPI report was cooler than expected.

ANZ strategist Soni Kumari suggests gold price pullbacks could be buying opportunities.

Financial analyst Kyle Rodda notes continued weak inflation could enhance gold’s appeal.

Spot silver rose 0.1% to $29.02 per ounce.

Platinum increased by 1.2% to $957.75.

Palladium gained 0.6% to $888.52.

Despite these gains, silver, platinum, and palladium are headed for weekly losses.

Author : Arman Shaban
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