Gold price today.
Updated
Gold extended its rally on Friday as U.S. inflation data further strengthened expectations for an interest rate cut later this year. At the same time, safe-haven demand surged amid growing concerns over geopolitical tensions in the Middle East, providing an additional boost to bullion prices.
A report released during the day showed U.S. producer prices remained unchanged in September, signaling a favorable inflation outlook and reinforcing hopes that the Federal Reserve will lower rates next month.
In this context, the PPI figures appear to favor the bulls in the precious metals market, suggesting that the Fed is still on track to proceed with its anticipated rate cut.
A report released during the day showed U.S. producer prices remained unchanged in September, signaling a favorable inflation outlook and reinforcing hopes that the Federal Reserve will lower rates next month.
In this context, the PPI figures appear to favor the bulls in the precious metals market, suggesting that the Fed is still on track to proceed with its anticipated rate cut.
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