PRECIOUS METALS | Gold Faces Weekly Decline Amid U.S. Rate Reevaluation

Gold is anticipated to experience its first weekly decline in five weeks as traders reassess the trajectory of U.S. interest rates. According to Jin10, Matt Britzman from Hargreaves Lansdown highlights that despite geopolitical uncertainties in the Middle East, surging oil prices could drive inflation higher. Coupled with robust U.S. economic data, traders now expect only one rate cut this year, down from two earlier this week. Typically, lower borrowing costs support non-yielding assets like gold. In early European trading, both gold and silver prices have risen, with silver futures showing more significant gains.