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Gold prices hold steady ahead of key US inflation data

Gold (Symbol: XAUUSD) prices are holding their ground as the markets await key US inflation data later this week, which could significantly influence the Federal Reserve’s next move on interest rates. Spot gold was relatively unchanged. This steady performance highlights a cautious stance from the markets as the focus remains to gauge the Fed’s next steps on rate cuts. This steady performance highlights a cautious stance from the markets as the focus remains to gauge the Fed’s next steps on rate cuts. Learn more about market analysis for gold here.

how will gold trend

Disclaimer:

Traders should monitor the data releases closely and be prepared for potential volatility in the gold market. The US jobs data released revealed that job growth did not meet expectations, with unemployment rising. This indicates potential weakness in the labour market, increasing the likelihood of a recession and strengthening the case for a rate cut at the Federal Reserve meeting.

Publication date:

2024-08-19 07:52:58 (GMT)

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