Gold Wavers as U.S. Economic Slowdown Spurs Rate Cut Speculation Gold prices briefly recovered after falling to below $2,300, the biggest daily drop in nearly two years, influenced by weaker-than-expected U.S. business activity in April. This slowdown, marked by the first employment decline since 2020 and a contraction in the manufacturing and services sectors, has led to speculation about potential Federal Reserve rate cuts. Such cuts could benefit non-interest bearing assets like gold. However, despite a momentary lift from lower bond yields and a weaker dollar following the economic report, gold prices relinquished their gains amid diminishing geopolitical tensions in the Middle East. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts GoldSilver Infographic: History of Money and Currency in the USA READ MORE Remote Work Could Cost Boston $1 Billion in Taxes READ MORE U.S. Dollar Stabilizes After Better-Than-Expected GDP Report READ MORE The World Bank: Gold Investing Handbook for Asset Managers READ MORE Wall Street Weighs Impact of Biden-Trump Rematch on Financial Markets READ MORE Add a Comment Cancel replyYour email address will not be published.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