Gold News – 25.Jul.2024

Gold News

Gold dropped to around $2,370 per ounce, the lowest in two weeks.

Investors are cautious ahead of key US economic data.

Key data includes Q2 GDP figures and June PCE price index report.

Q2 GDP growth is expected to be 2%, up from 1.4% in Q1.

PCE price index is forecasted to rise by 0.1% after no change in May.

Markets are fully pricing in a September rate cut with two more cuts by year-end.

India is expected to increase physical gold demand after reducing the import tax from 15% to 6%.

Author : Arman Shaban
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