Gold prices showed a slight increase on Friday, marking a potential fourth consecutive monthly gain. Investors are keenly awaiting the U.S. inflation data which is expected to shed light on the Federal Reserve’s future moves.
Picture: Gold price shows slight increase on the VT Markets app.
Federal Reserve policymakers maintain a cautious stance, expecting inflation to decline throughout the year despite a robust labour market. This has led them to maintain the policy rate between 5.25% and 5.5% since last July.
Gold traditionally serves as an inflation buffer, yet higher interest rates could lessen its appeal by increasing the cost of holding non-yielding assets.
Read: 4 reasons why traders flock to safe-haven gold during global political tensions
Picture: Further downside prevails as seen on the VT Markets app.
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