Gold Prices on the Rise Amid 'Soft' U.S. Data and Rate Cut Speculations

Friday, 10 May 2024, 14:32

Gold prices hit a 3-week high fueled by 'soft' U.S. data that point towards potential rate cuts by the Federal Reserve this year. The surge indicates investor expectations of lower interest rates in the near future, with gold being a preferred hedge against uncertainties in the economic landscape.
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Gold Prices on the Rise Amid 'Soft' U.S. Data and Rate Cut Speculations

Gold Prices Surge as U.S. Data Signals Rate Cuts

Gold futures climbed on Friday, aiming for their first weekly gain in three weeks. The surge was supported by downbeat U.S. economic data that heightened expectations for Federal Reserve interest-rate cuts.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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