Reported 11 days ago
Gold is on track for a weekly decline as traders reassess interest rate expectations after the Federal Reserve moderated its 2025 rate-cut outlook. Currently priced around $2,590 an ounce, gold has decreased approximately 2% this week. Comments from Fed Chair Jerome Powell regarding the need for more progress on inflation have shifted focus, while robust US GDP data hampers immediate rate-cut necessities. Despite a strong performance earlier in the year, gold's rally has slowed, influenced by moments such as Donald Trump's election victory that strengthened the dollar.
Source: YAHOO