Gold News – 03.Jun.2024
Gold News
Spot Gold : Spot gold remained nearly unchanged at $2,322.53 per ounce as of 0342 GMT. It had risen nearly 2% in May.
U.S. Gold Futures : U.S. gold futures fell 0.1% to $2,342.70.
Market Catalysts : Traders are closely watching U.S. economic data, including jobs data and the Institute of Supply Management’s PMI reading, to gauge the health of the economy and assess whether the Federal Reserve will cut interest rates in September.
Inflation and Rate Cut Expectations : Recent data showed that U.S. inflation stabilized in April, increasing the likelihood of a rate cut in September. Traders currently estimate a 54% chance of a cut, up from 49% before the report.
Author : Arman Shaban
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