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Gold firms on hopes for Fed rate cut in June

  • 3 min
Gold prices edged higher as hopes for a Fed rate cut in June and a weaker dollar boosted bullion's appeal. Spot gold rose 0.1% to $2,166.39 per ounce, with U.S. gold futures up 0.4% to $2,167.70. Traders anticipate a 74% probability of rate cuts in June, with expectations shaped by upcoming U.S. core PCE price index data.
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Gold firms as Middle East jitters outweigh US inflation data

  • 2 min
Gold prices rose as Middle East tensions overshadowed strong US inflation data. Spot gold was up 0.5% at $2,038.19 per ounce, with US gold futures up 1.2% at $2,042.90. The ongoing conflict in the Middle East and expectations of a US economic slowdown are supporting gold's price. Other precious metals also saw gains.