Gold prices today on the international market increased in the context of investors hoping that the US Federal Reserve (FED) will cut interest rates in June 2024, despite rising inflation in the US. From there, they reduce their need to hold USD, causing this currency to depreciate, benefiting gold prices.
Analysts say that if the US cuts interest rates, gold prices will skyrocket. If the FED does not cut interest rates, the market will have concerns about rising inflation, which could push up gold prices.
Meanwhile, escalating geopolitical tensions due to the Russia-Ukraine military conflict has maintained the need for safe haven capital in gold. Gold price has conditions to increase.