Gold edges higher as weak US data lifts Fed rate-cut bets
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Gold prices rose on Thursday amid expectations of a Federal Reserve interest rate cut, while investors awaited key data on retail sales, jobless claims, and inflation pressures. Spot gold was up 0.2% at $2,331.38 per ounce, as of 0126 GMT. U.S. gold futures edged 0.1% lower to $2,345.00. Traders are currently pricing in about a 66% chance of a Fed rate cut in September, according to CME FedWatch Tool. Lower interest rates reduce the opportunity cost of holding non-yielding bullion.

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https://m.economictimes.com/markets/commodities/news/gold-edges-higher-as-weak-us-data-lifts-fed-rate-cut-bets/articleshow/111126285.cms