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Gold traded around $2,570 per ounce on Friday, heading for its worst week since June 2021, pressured by a strong US dollar and reduced expectations for Federal Reserve rate cuts, which diminished the appeal of non-interest-bearing gold.
On Thursday, Fed Chair Powell signaled that there was no immediate need to cut rates, citing the strength of the economy, a robust job market, and persistent inflation.
On Thursday, Fed Chair Powell signaled that there was no immediate need to cut rates, citing the strength of the economy, a robust job market, and persistent inflation.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.