-
Gold Monthly: Gold breaks new highs
Gold has climbed more than 12% so far this year despite the timeline for Fed cuts being pushed back. Higher rates are typically negative for gold as it doesn’t pay interest. The key driver of the outlook for gold prices for the past year has been Federal Reserve policy. The Fed is expected to cut rates this year but has said that it needs to see more evidence of inflation easing first. Inflation data that is due next week will offer further insights into the US economy. Our US economist expects the first rate cut in September, followed by cuts in November and December as well. If the Fed continues its cautious ... (full story)