firms

Gold firms on hopes for Fed rate cut in June

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.

Gold firms as Middle East jitters outweigh US inflation data

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.