Market Awaits Inflation Data as Gold Prices Rise Gold prices rose on Monday as traders anticipated key U.S. inflation data and potential interest rate cuts by the Federal Reserve. Spot gold increased by 0.6% to $2,444.79 per ounce, while U.S. gold futures rose by 0.4% to $2,483.70. Investors are considering a 49% chance of a 50 basis point rate cut in September, with upcoming inflation data expected to influence this decision. Analysts suggest that lower-than-expected inflation could lead to record highs for gold prices. Geopolitical tensions and volatility in other markets continue to support gold’s appeal as a safe-haven asset. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Record Increase in U.S. Labor Costs Points to Continued Inflationary Pressure READ MORE Fed Chair Powell Stresses Patience on Rate Cuts Amid Inflation Battle READ MORE VanEck CEO Bullish on Bitcoin and Gold Amid Global Economic Shifts READ MORE Housing Costs Drive a Wedge Between Fed’s and Popular Inflation Metrics READ MORE De-Dollarization: Cross-Border Payment Platform to Include Currencies from Pakistan, India, and Chin READ MORE Add a Comment Cancel replyYour email address will not be published.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