Forex
Gold Prices Soar as Fed Rate Hike Expectations Plummet
A recent surge in gold prices can be attributed to weak U.S. economic data that has dampened expectations for Federal Reserve rate hikes.
The European trading session on Friday, August 14 saw a notable intraday gain of 0.60% in gold prices, driven by the broad-based weakness in the U.S. dollar.
Cooling U.S. inflation data has reduced the likelihood of a Federal Reserve rate hike, with investors scaling back bets on a hawkish rate hike ahead of the September monetary policy meeting.