Gold Retreats Slightly Amidst Rally, Fed Rate Cut Speculations
Gold’s rally briefly paused on Thursday, as spot gold dropped 0.3% to $2,180.49 after reaching a record high of $2,222.39. U.S. gold futures, however, climbed 1.1% to settle at $2,184.7. The slight pullback was influenced by a strengthening dollar and market corrections after aggressive buying. Despite this, the overall sentiment in the gold market remains bullish, fueled by anticipation of Federal Reserve’s hinted interest rate cuts in 2024 and strong central bank buying.
Oil Prices Slip Amid Gaza Ceasefire Hopes and Strong Dollar
Oil prices declined on Friday due to potential easing of Middle East tensions with a nearing Gaza ceasefire and a robust U.S. dollar, coupled with decreasing U.S. gasoline demand. Brent crude and U.S. crude futures both fell by 0.6%….
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