Gold prices saw a rebound today, however, they are still on track for a weekly decline. The downward trend follows the Federal Reserve's recent meeting and its cautious tone on interest rates for 2025.
Market participants are now focusing on upcoming U.S. inflation data, as it is crucial for shaping future policy decisions. Anticipated moderation in Core Personal Consumption Expenditure (PCE) inflation could influence the Fed’s rate cut predictions.
Despite expected increases in core inflation, stronger performance in these inflation indicators could raise the possibility of fewer interest rate cuts in 2025, which would apply further pressure on gold prices.
In addition to the factors affecting pricing, a projected significant drop in gold imports from India, a key consumer, along with ongoing geopolitical tensions, presents a mixed outlook for gold demand moving forward.
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