Gold faces weekly gain on potential pause in Fed rate hike
Gold prices recorded a slight dip on Friday, as bullion headed for its weekly gain on the assumption that the US Federal Reserve may pause rate hikes in its upcoming meeting. Spot gold retreated by 0.2% to $1,964.52 per ounce, recovering from Thursday’s 1% climb after data showed that US weekly jobless claims surged last week, adding to the belief that the Fed will halt its interest rate-hiking cycle. Meanwhile, the US consumer inflation report due on 13 June will provide further transparency in ..
The dollar index hovered close to the previous session's lows and was on track for a second weekly fall. A weaker dollar makes gold less expensive for overseas buyers
While gold is considered a hedge against inflation, interest rate hikes raise the opportunity cost of holding non-yielding bullion.
GOLD BUY LIMIT 1954 - 1958💯💯
✅𝖳𝖯1 1963
✅𝖳𝖯2 1968
✅TP3 1973
🛑𝖲𝖫 1950
The dollar index hovered close to the previous session's lows and was on track for a second weekly fall. A weaker dollar makes gold less expensive for overseas buyers
While gold is considered a hedge against inflation, interest rate hikes raise the opportunity cost of holding non-yielding bullion.
GOLD BUY LIMIT 1954 - 1958💯💯
✅𝖳𝖯1 1963
✅𝖳𝖯2 1968
✅TP3 1973
🛑𝖲𝖫 1950
