Hello dear friends! What do you think about the current trend of gold prices today?
Gold prices are currently inching up due to the weakening of the US dollar. The latest economic report released yesterday has strengthened expectations that the Federal Reserve (Fed) will cut interest rates in March next year.
As a result, the market is expecting the Fed to accelerate the rate cut. Weaker-than-expected GDP data has pushed up the price of this precious metal with prospects for further increases in the future.
Gold prices are currently inching up due to the weakening of the US dollar. The latest economic report released yesterday has strengthened expectations that the Federal Reserve (Fed) will cut interest rates in March next year.
As a result, the market is expecting the Fed to accelerate the rate cut. Weaker-than-expected GDP data has pushed up the price of this precious metal with prospects for further increases in the future.
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🎯The US core PCE index remained at 0.1%, lower than forecast. After the data was released, the Dollar DXY index had a slight increase
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