Gold prices went up due to the signs of inflation cooling down. This has led to expectations that the Fed may halt its rate hike cycle earlier than expected.
The US consumer price index (CPI) is expected to go up by 5%, which is 0.3 percentage points lower than the previous month's 5.3%. As a result, the dollar has decreased in value against other major currencies, making gold more appealing to those who hold other currencies.
In the medium and long term, gold is expected to be supported as the Fed approaches the end of its monetary policy easing cycle.
The US consumer price index (CPI) is expected to go up by 5%, which is 0.3 percentage points lower than the previous month's 5.3%. As a result, the dollar has decreased in value against other major currencies, making gold more appealing to those who hold other currencies.
In the medium and long term, gold is expected to be supported as the Fed approaches the end of its monetary policy easing cycle.
Comment:
GOLD is up
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