Gold Prices Surge on Slowing US Inflation and Rate Hike Expectations - News18
[ad_1]
Last Updated: July 15, 2023, 03:11 IST New York, United States of America (USA) Spot gold fell 0.1% to $1,959.27 per ounce by 01:45 p.m. EDT (1745 GMT), but has gained about 1.8% so far this week. U.S. gold futures settled little changed at $1,964.40. Gold prices ease, poised for biggest weekly gain since April on slowing U.S. inflation and rate hike expectations Gold prices eased on Friday but were on track for their biggest weekly gain since April, after signs of slowing U.S. inflation raised expectations of a pause in Federal Reserve’s interest rate hikes after this month. Spot gold fell 0.1% to $1,959.27 per ounce by 01:45 p.m. EDT (1745 GMT), but has gained about 1.8% so far this week. U.S. gold futures settled little changed at $1,964.40. Bullion hit its highest since June 16 earlier this week after data showed U.S. consumer prices in June registered their smallest annual increase in over two years, prompting bets the Federal Reserve could soon end its rate-hike cycle...