Gold was under pressure to give up its gains below $2,390 as US job openings and consumer confidence showed positive signs. Geopolitical concerns in the Middle East and Eurozone uncertainty fueled gold's gains.
Market expectations of interest rate cuts in September and beyond are limiting the negative impact on gold despite positive economic figures. A 90% probability exists for a 25-basis point cut in September.
Eurozone's lackluster economic performance, including a surprise contraction in Germany, adds to uncertainty in the global economy, potentially supporting gold prices amid low investor sentiment.
Collection
[
|
...
]