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Gold remains sluggish as Fed meeting approaches

Spot gold was down, U.S. gold futures were little changed. The Federal Reserve is expected to hold rates steady at the end of its two-day meeting. However, the Fed might signal policy easing by acknowledging that inflation has edged closer. Investors will also keep an eye on a series of employment data scheduled for release this week, with the main focus on the nonfarm payrolls report. This data will be crucial in determining the Fed’s next move. Any hint of easing from the Fed or weak employment data could weaken the U.S. dollar, potentially boosting gold prices. Read more to find out why gold remain sluggish.

why gold remain sluggish

Disclaimer:

Gold’s movement will closely depend on the Fed’s tone and the upcoming jobs report. Traders should stay vigilant, sticking to a trading strategy and managing risks at a healthy level.

Publication date:

2024-08-04 13:50:59 (GMT)

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