Gold Grinds Near Key Support as Investors Await Macro Catalysts
Gold prices are trading near key support levels after the Federal Reserve maintained interest rates at 3.75% in its recent meeting. The decision largely matched expectations, but Treasury yields firmed up, keeping the US dollar supported and limiting further upside in bullion.
The Fed emphasized that future policy decisions will depend on incoming economic data, which has led to a patient approach from investors. Markets are now focused on today's GDP and Core PCE releases for guidance on the policy outlook.
The advance estimate of second-quarter GDP and the Core PCE Price Index, the Federal Reserve's preferred inflation measure, are expected to shape expectations for real yields and the policy path during the second half of the year. The Bank of England's policy decision later today may also influence broader global rate expectations.