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 Record Gold Rally Hits Pause as U.S. Treasury Yields Climb READ MORE Shelter and Services Costs Key Focus in Upcoming May CPI Report READ MORE Asahi vault 30 miles outside NYC added to COMEX approved vault list READ MORE Traders Increase Bets on September Fed Rate Cut Following Inflation Report READ MORE Gold Maintains Momentum as Markets Await Crucial US Jobs Report READ MORE Add a Comment Cancel replyYour email address will not be published.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