Gold plummets to near $2,400 as profit-booking kicks in, US Dollar advances Gold prices have fallen to near $2,400, extending a three-day losing streak after hitting all-time highs above $2,480. This decline is attributed to profit-taking, a recovery in the US Dollar, and rising bond yields. Political uncertainty in the US, with speculation about President Biden possibly not running for re-election and an assassination attempt on Donald Trump, has boosted the US Dollar’s appeal. Market expectations for the Federal Reserve to reduce interest rates in September remain strong, influenced by recent inflation data and cooling labor market conditions. The US Dollar Index has rebounded to near 104.30, further pressuring gold prices. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Federal Reserve Reveals Over 1,800 Banks Accessed Emergency Funds Post-SVB Collapse READ MORE Fed's Daly: Cooling Inflation May Warrant One or Two Rate Cuts in 2024 READ MORE Gold Prices Dip Despite Growing Rate Cut Expectations READ MORE WSJ: Interest Rates Are a Distraction; Fed's Asset Holdings Hold Real Power READ MORE Consumer Spending Defies Inflation Fears, Jumps 0.7% in March READ MORE Add a Comment Cancel replyYour email address will not be published.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