Reported 12 months ago
Federal Reserve Chairman Jerome Powell expressed the need for additional economic data to confirm that inflation is truly decreasing before the Fed considers cutting interest rates. Powell emphasized the importance of being more confident in the levels observed for underlying inflation, highlighting the strength of the U.S. economy as a factor in taking their time on rate decisions. His cautious stance caused gold prices to slide while silver saw a modest gain, with investors awaiting further indicators such as the upcoming FOMC minutes and U.S. non-farm payrolls data later in the week.
Source: YAHOO