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Gold Holds Just Below Record as Traders Wait for Rate-Path Clues
Gold held a fifth weekly advance, boosted by the Federal Reserve’s first rate cut of the year, with investors looking to a key inflation print due Friday for more clues about the US central bank’s monetary path. Bullion was trading around $20 an ounce short of a record high set last week, after the Fed reduced rates by 25 basis points on Wednesday. Prices then retreated from the all-time high after Chair Jerome Powell indicated officials would take a “meeting-by-meeting” approach to future decisions, curbing expectations for rapid easing. Lower rates benefit non-interest bearing gold. Traders will parse ... (full story)
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