Gold rises above $5,060 amid soft GDP and hot PCE
after close1 source ↓written by the desknot a recommendation
- prices surged
- 1%
- as weaker US
- $5,065
- Dollar weakened
- 0.11%
Gold prices surged over 1% to $5,065 as weaker US GDP and rising core PCE inflation raised concerns about the Federal Reserve's policy outlook. The US Dollar weakened by 0.11%, following a Supreme Court ruling against tariffs imposed by Trump, improving market sentiment. Traders are now pricing in potential Fed rate cuts this year.
Not investment advice. For informational purposes only.