Higher than expected US inflation number weighed on Gold. Economists at ANZ Bank analyze the yellow metal’s outlook.
Market pricing for June cut to declined from 93% to 77% Gold prices came under pressure after the US inflation print came in higher than expected.
This led market pricing for a June cut to decline from 93% to 77%. The FOMC has said it needs more evidence to see inflation heading towards the 2% target before it starts cutting interest rates. Easing monetary policy will be crucial to push Gold prices higher.
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