Gold Prices Stabilize Amid Inflation, Labor Market Concerns and Fed Rate Cut Speculation
Gold prices pared their weekly losses on the back of hotter-than-expected inflation data and signs of a cooling labor market, which intensified debate over the Federal Reserve’s anticipated interest rate cut next month. The precious metal, which is highly sensitive to interest rate movements, gained as much as 0.7% to trade at $2,647.25 per ounce, adding to gains made in the previous trading session.
Wilfred