Gold prices rebounded on Monday after six consecutive sessions of losses, driven by a pause in the U.S. dollar’s rally.
Gold prices rebounded on Monday after six consecutive sessions of losses, driven by a pause in the U.S. dollar’s rally. The spot price is trading at $2,604.71 per ounce, up $41.46 and moving away from a two-month low hit on Thursday. Silver is trading at $30.92, up 65 cents. This rebound comes after gold experienced its biggest weekly decline in over three years due to expectations of less aggressive interest rate cuts by the Federal Reserve.
Investors are now awaiting comments from Federal Reserve officials for clarity on the interest rate trajectory. The recent U.S. economic data has reduced expectations for a December rate cut by the Fed, with at least seven U.S. central bank officials scheduled to speak this week. Analysts suggest that while the short to medium-term outlook for gold may be negatively impacted by a strengthening U.S. dollar, the long-term inflationary effects of President Trump’s policies could benefit gold prices.
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