Gold Holds Above $2,400, Eyes Third Consecutive Weekly Gain Gold prices remained steady above $2,400 per ounce on Friday, poised for a third consecutive weekly gain. This stability comes as investors grow increasingly confident that the Federal Reserve will soon cut interest rates, following unexpected declines in U.S. consumer prices. Despite a hotter-than-expected producer price index report causing some profit-taking, the overall sentiment remains bullish. Markets are now pricing in a 96% chance of a rate cut in September, which would reduce the opportunity cost of holding non-yielding gold. While gold and silver have shown strength, platinum and palladium are set for weekly declines, with long-term bearish outlooks due to declining autocatalyst demand. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Powell Dismisses Stagflation Fears READ MORE Small Business Bankruptcy Relief Shrinks as Subchapter V Expansion Expires READ MORE Record-Breaking Gold Rally Continues for Eighth Day on Safe-Haven Demand READ MORE Morgan Stanley Economist Foresees Inevitable Recession Due to Fed's Rate Hikes READ MORE Analysts Predict Further Gains for Precious Metals Amid Strong Chinese Demand READ MORE Add a Comment Cancel replyYour email address will not be published.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