It logged its biggest monthly rise in more than three years in March
BENGALURU/MUMBAI – Gold prices rose to a record high on Monday, as a softer US inflation report cemented bets that the Federal Reserve would deliver its first interest rate cut of the year in June.
"The absence of any upside surprises in the core PCE price index release may have provided further go-ahead for gold prices to push into new record territory," said IG market strategist Yeap Jun Rong, referring to the personal consumption expenditures price index report. Traders are currently pricing in a 69pc probability that the Fed would begin cutting rates in June, up from 64pc before the data came in on Friday, according to the CME Group's FedWatch Tool.Gold logged its biggest monthly rise in more than three years in March after a blistering rally fuelled by rate-cut bets, strong safe-haven demand and central bank buying.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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