Home Business News Gold prices stabilise as market anticipates US inflation data and Fed

Gold prices stabilise as market anticipates US inflation data and Fed

12th Jun 24 1:47 pm

Gold remains steady as investors await today’s key market catalysts.

The focal point is the much-anticipated US inflation report for May, set to be released later today, alongside the Federal Reserve’s policy announcement.

These events are critical as they will provide insights into the potential timing of the next interest rate cut. Attention is particularly directed towards the updated economic projections from policymakers and the press conference by Chair Jerome Powell.

If the core inflation data is weaker than expected, it could trigger a rebound in gold prices, reinforcing the case for an earlier rate cut in September.

Additionally, gold may find safe-haven support due to escalating political uncertainty in Europe. This comes in the wake of French President Emmanuel Macron’s decision to call snap elections, which has heightened political uncertainty in France, the eurozone’s second-largest economy.

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