Gold Prices Await U.S. Economic Data

Gold prices held steady on Monday, with investors anticipating upcoming economic data to influence the Federal Reserves interest rate decisions. Spot gold remained at $2,322.39 per ounce, while U.S. gold futures slightly increased to $2,334.30. Experts predict gold to stay within a narrow range, influenced by U.S. economic reports, particularly the PCE data. A lower-than-expected PCE could boost gold prices, while a stronger report might cause a drop towards $2,280. This weeks data releases, including the PCE price index and Fed officials speeches, will impact market expectations for a September rate cut. Silver, platinum, and palladium also experienced minor declines.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.