The latest US economic and inflation data are supporting gold prices.
The series of economic and inflation data released by the US last night may significantly reduce investors’ concerns about the Federal Reserve’s willingness and need to raise interest rates aggressively. Firstly, the second-quarter GDP was revised downwards, and personal income and spending also fell in June. This should indicate to the market that the outlook for the US economy is not overly optimistic. For the Fed, whether raising interest rates will drag down US economic growth is a crucial consideration.… … »The latest US economic and inflation data are supporting gold prices.