Gold price decreased slightly in today's trading session
Gold prices are forecast to have many fluctuations in the short term when the market receives important economic data from the US, such as the purchasing managers index report in the manufacturing and service sectors, and the number of applications reported. Unemployment benefits and May non-farm payroll report
The slight decrease in gold prices may be a short-term correction after a series of recoveries since the beginning of the year. US PCE data showed a 0.3% rise in April, showing signs of stabilizing inflation in 2024, with core inflation rising 2.7% in the 12 months to March.
Expectations for the Fed to cut interest rates from September 2024 have decreased as April inflation was unchanged from the previous month and still far from the 2% target.
World gold prices tend to decrease compared to last week's closing level. However, the latest Kitco News Gold Survey results show that both experts and retail investors maintain optimism about gold's prospects in the short term.
The slight decrease in gold prices may be a short-term correction after a series of recoveries since the beginning of the year. US PCE data showed a 0.3% rise in April, showing signs of stabilizing inflation in 2024, with core inflation rising 2.7% in the 12 months to March.
Expectations for the Fed to cut interest rates from September 2024 have decreased as April inflation was unchanged from the previous month and still far from the 2% target.
World gold prices tend to decrease compared to last week's closing level. However, the latest Kitco News Gold Survey results show that both experts and retail investors maintain optimism about gold's prospects in the short term.
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