Gold prices are consolidating above $2,430 as market expectations remain stable, with a lack of significant catalysts influencing trends despite recent economic data.
While inflation data has reached the Fed's target, it merely supports the idea of a September rate cut without prompting an aggressive reduction.
Current economic indicators point towards a resilient economy, reinforcing the likelihood of a consensus 25 basis point rate cut in September.
With inflation fading from focus, only a downturn in labor conditions or PBOC gold purchases might surprise markets before the Fed meeting.
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