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Gold Prices Hovering At All-Time Highs, As Investors Assessed Fresh Economic Data.
Gold prices saw a notable uptick yesterday, gaining 1.13% to settle at 67701 as investors digested a blend of fresh economic indicators and mixed signals from Federal Reserve officials. The impending US PCE index price report loomed over market sentiment, contributing to a cautious atmosphere. Fed Governor Christopher Waller’s cautionary remarks about potential interest rate cuts due to robust inflation added to the market’s apprehension. Currently, there’s a 64% probability priced in for a rate reduction in June, suggesting lingering uncertainty.
