Gold News – 12.Aug.2024

Gold News

Gold rose to $2,442 per ounce on Monday as investors shifted their focus to upcoming US inflation data this week for clues on the Federal Reserve’s monetary policy path.

Expectations of a Fed rate cut in September remain, though market opinions are divided following positive US job data, which eased recession concerns.

Gold’s safe-haven appeal is supported by ongoing geopolitical tensions, including an Israeli airstrike on Gaza and Moscow’s response to Ukraine.

US producer inflation data will be released on Tuesday, followed by consumer inflation figures on Wednesday.

Author : Arman Shaban
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