Gold News – 12.Jul.2024
![XAUUSD GOLD EURUSD GBPUSD Forex Gold Master Arman Shaban](https://armanshaban.com/wp-content/uploads/2024/04/Gold-news-scaled.jpg)
Gold News
Gold prices dipped 0.3% to $2,407.31 per ounce, but were up 0.5% for the week.
U.S. gold futures fell 0.4% to $2,412.50.
Weaker-than-expected U.S. inflation data boosted expectations for September rate cuts.
Markets now see a 93% chance of a September rate cut, up from 70%.
Lower interest rates reduce the opportunity cost of holding gold.
Spot silver fell 2% to $30.82 per ounce.
Platinum dropped 1.1% to $993.69; palladium decreased 2.3% to $971.93.
Both platinum and palladium were set for weekly declines.
Citi remains bearish on palladium due to insufficient offset from new technologies.
Author : Arman Shaban
To see more analyzes of Gold , Forex Pairs , Cryptocurrencies , Indices and Stocks , be sure to Follow and Join us on other Platforms :
– Public Telegram Channel
– YouTube Channel
– TradingView
– X (Twitter)
– How to join our FOREX VIP Channel ?
– How to join our Crypto VIP Channel ?
– CONTACT ME directly on Telegram