Gold rebounds slightly; U.S.-China talks and vanishing rate cuts weigh on precious metal. 5/9/25

Gold futures posted a modest rebound Friday after back-to-back daily and weekly losses. Prices were up 2.81% on the week but well off their highs, with signs of topping behavior emerging. Markets are now focused on this weekend’s U.S.-China discussions in Switzerland, as well as the shrinking number of rate cuts priced in through 2026—now just four, per the CME FedWatch tool. Bob Iaccino has more.