Reported about 2 months ago
Gold prices experienced volatility as traders processed recent US retail spending data, which revealed the strength of the economy. This information has implications for the Federal Reserve's anticipated interest rate cuts next month. While positive economic indicators alleviated concerns about a potential economic downturn, they also raised questions about the Fed's rate-cutting strategy. Gold has seen a 19% rise this year, fueled by optimism for monetary easing and increased central bank purchases, with spot gold reaching $2,457.81.
Source: YAHOO