Gold Hits Three-Week High as Cooling Inflation Fuels Fed Rate Cut Hopes Gold prices reached a three-week high on Wednesday, driven by a weaker dollar and lower yields after the U.S. consumer price index rose less than expected in April, increasing the likelihood of Federal Reserve interest rate cuts. Spot gold rose 0.4% to $2,367.29 per ounce, and U.S. gold futures rose 0.6% to $2,372.70, as investors anticipated that cooling inflation could lead to rate cuts by September. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Crude Oil's Upward Momentum Stalls Amid Signs of Overbought Market READ MORE Banks Offload Bonds at a Loss, Betting on Future Fed Rate Reductions READ MORE Gold Hits Week-High as Investors Eye Fed's Next Move READ MORE Inflation Squeeze: Gen Z Turns to Parents and Budget Cuts to Survive READ MORE Leading Economic Index Suggests U.S. Recession Fears Receding READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment