Gold prices built on last week's advance early Monday during what was shaping up to be a quiet session as traders awaited a Tuesday inflation report followed...
Gold prices built on last week’s advance early Monday during what was shaping up to be a quiet session as traders awaited a Tuesday inflation report followed by the conclusion of the Federal Reserve’s June policy meeting on Wednesday.
Price actionWhat’s happening Gold traders are anticipating that the Federal Reserve will leave interest rates on hold after the conclusion of its June policy meeting on Wednesday. However, a hot Tuesday inflation report could push the central bank toward a surprise hike following...
Price action What’s happening Gold traders are anticipating that the Federal Reserve will leave interest rates on hold after the conclusion of its June policy meeting on Wednesday. However, a hot Tuesday inflation report could push the central bank toward a surprise hike following Friday’s hotter-than-expected monthly U.S. jobs data.Whatever happens, the price of gold could be profoundly impacted, analysts said.
“A majority of the marketplace still thinks the Fed will pause in its interest-rate-tightening cycle. However, a stronger U.S. jobs report last Friday has bolstered those outliers who are thinking the Fed will make another rate hike this week,” said Jim Wyckoff, senior analyst at Kitco.com.
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