Gold News – 15.Aug.2024

Gold News

Gold rose above $2,450 per ounce after a decline, as investors analyzed US CPI data.

US inflation eased to 2.9% in July, below the 3% forecast, with the core rate at a three-year low of 3.2%.

Markets expect the Fed to lower rates in September, but rising monthly inflation dampened hopes for a significant rate cut.

Gold’s momentum is trimmed due to its relationship with interest-bearing assets.

Safe-haven demand persists due to concerns over potential Middle East conflict escalation involving Iran and Israel.

Author : Arman Shaban
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