Gold prices are stuck in neutral, waiting on a signal from the US economy. Investors are on high alert for today’s jobless claims data and consumer sentiment reading next Friday, hoping for clues about the Federal Reserve’s next move on interest rates.
A potential rate cut in September is on the table, but gold bugs are being cautious. Strong inflation numbers could push prices down, while a weaker economy might be just what the Fed needs to hit its 2% inflation target.
Meanwhile, the platinum market is gearing up for a supply squeeze, with demand expected to stay strong. This could be good news for the metal, which has been struggling lately.
- Gold: Stuck in a tight range, waiting on US economic data for hints about a possible rate cut.
- Platinum: Headed for a supply shortage, potentially boosting prices.
- Fed: Needs a cooler economy to bring inflation up to 2%.
Stay tuned for the latest data releases that could shake things up in the gold market.
