Gold quietly waiting for new news
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GOLD MARKET UPDATE:
For the first time in three weeks, gold prices (XAU/USD) ended on a positive note, buoyed by ongoing geopolitical tensions and the recent weakening of the US Dollar (USD). However, the precious metal is facing challenges in sustaining its upward momentum and has seen a slight decline in the Asian trading session on Monday. This could be attributed to speculations that the Federal Reserve (Fed) might maintain higher interest rates for a longer period.
Market participants have recently adjusted their expectations regarding an early rate cut by the US central bank. This shift in sentiment followed the release of consumer and producer price data in the US, which came in higher than anticipated earlier this month. Additionally, the minutes from the FOMC meeting at the end of January and hawkish comments from Fed officials suggest that the central bank is reluctant to cut interest rates due to persistent inflation and a strong US economy.
For the first time in three weeks, gold prices (XAU/USD) ended on a positive note, buoyed by ongoing geopolitical tensions and the recent weakening of the US Dollar (USD). However, the precious metal is facing challenges in sustaining its upward momentum and has seen a slight decline in the Asian trading session on Monday. This could be attributed to speculations that the Federal Reserve (Fed) might maintain higher interest rates for a longer period.
Market participants have recently adjusted their expectations regarding an early rate cut by the US central bank. This shift in sentiment followed the release of consumer and producer price data in the US, which came in higher than anticipated earlier this month. Additionally, the minutes from the FOMC meeting at the end of January and hawkish comments from Fed officials suggest that the central bank is reluctant to cut interest rates due to persistent inflation and a strong US economy.
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