Gold Inches Higher as Markets Await Powell's Testimony and Inflation Data Gold prices edged up slightly on Tuesday as investors await Federal Reserve Chair Jerome Powell’s testimony to Congress and the upcoming U.S. June inflation data for insights into future interest rate decisions. The market is particularly sensitive to any unexpected dovish comments from Powell, which could push gold closer to $2,400 per ounce. However, persistent inflation could lead to a reversal of recent gains. Current market expectations, influenced by rising unemployment rates, suggest a high probability of a rate cut in September, with another expected by December. These factors continue to be the primary drivers of gold prices in the short term. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Starbucks, McDonald's Feel the Pinch as Diners Tighten Belts READ MORE U.S. National Debt Soars to Dizzying Heights, Joining Global Debt Pile-Up READ MORE G-20 Says World Economy Has Growing Chance of Soft Landing READ MORE Silver Institute: World Silver Survey 2024 READ MORE Oil Prices Rebound Ahead of Key Industry Reports and Fed Decision READ MORE Add a Comment Cancel replyYour email address will not be published.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