Gold News – 12.Jun.2024
Gold News
Gold prices remained stable, with spot gold slightly down by 0.1% at $2,314.56 per ounce and U.S. gold futures up by 0.2% to $2,331.10.
Investors are awaiting the U.S. consumer inflation data and the Federal Reserve’s (Fed) interest rate policy update.
There is concern that inflation is not decreasing as expected, which may lead the Fed to delay interest rate cuts, potentially negative for gold prices.
The market is uncertain if the Fed will cut rates once or twice this year, with decisions influenced by strong U.S. labor data and economic projections.
China’s central bank paused gold purchases last month, but it’s believed that their diversification from the U.S. dollar is not over.
Despite high prices, gold demand in Asia is increasing.
Other precious metals’ prices also saw changes, with spot silver rising 0.5%, platinum falling 0.4%, and palladium gaining 0.2%.
Author : Arman Shaban
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