Gold News – 14.May.2024

Gold News

Gold futures are stable at $2,344.2 per troy ounce.

The U.S. dollar is currently preferred in the markets, affecting gold prices inversely.

U.S. Producer Price Index (PPI) and Consumer Price Index (CPI) data releases are anticipated.

Ricardo Evangelista, a senior analyst at ActivTrades, notes that higher inflation reduced the likelihood of interest rate cuts by the Federal Reserve.

This reduction in rate cut expectations has limited the rise in gold prices, which do not bear interest.

Evangelista suggests that if inflation is higher than expected, it could lead to fewer bets on Fed rate cuts, potentially increasing treasury yields and strengthening the dollar.

A stronger dollar and higher treasury yields could negatively impact gold prices, as it is a non-yielding asset.

Author : Arman Shaban
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