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 INCREMENTUM : Preview Chartbook of the In Gold We Trust Report READ MORE Gold Has Surged To New All-Time Highs READ MORE Fed's Rate Strategy for 2024: Stability Over Cuts, Says One Wall St Analyst READ MORE Triple Threat: U.S. Stocks, Gold, and Dollar Defy Economic Logic READ MORE Crude Oil's Upward Momentum Stalls Amid Signs of Overbought Market READ MORE Add a Comment Cancel replyYour email address will not be published.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