Investors Eye Fed's Next Moves as Gold Prices Soar to New Heights Gold prices reached a new record high above $2,350 an ounce but later pared gains, with investors’ attention turning towards the upcoming U.S. inflation data set to be released on Wednesday. The anticipation revolves around the Federal Reserve’s stance on interest rates, as higher rates generally have a negative impact on gold, which doesn’t yield interest. Despite the lack of a clear catalyst for gold’s rally since mid-February, the precious metal has surged over 18%, partly driven by expectations that the Fed might soon reduce borrowing costs and by consistent demand from central banks, notably the People’s Bank of China, which added gold to its reserves for the 17th consecutive month in March. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Currency Watch: Dollar Rises, Eyes Set on Upcoming U.S. Inflation Insights READ MORE Fed's Looming Rate Cut Could Bolster Biden's Reelection Bid READ MORE WGC: Gold Market Commentary: Higher-for-longer: Inflation not growth READ MORE US Labor Market Shows Signs of Cooling as Hiring Pace Moderates READ MORE Canada Tightens Grip on Critical Minerals Sector, Raising Bar for M&A Approvals READ MORE Add a Comment Cancel replyYour email address will not be published.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