Gold Falls, Dollar Strengthens: Fed Rate Cuts in Doubt
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Gold prices stagnate at $2030 per ounce, but face their worst month since September, dropping nearly 2% so far. The dollars strength and rising Treasury yields are causing a downturn, especially with robust U.S. economic data. Investors are reducing bets on Fed rate cuts this year, as durable goods orders surpassed expectations and business activity increased in February. Fed Governor Christopher Waller emphasized no rush to lower rates, with inflation under control, making gold less appealing in a high-rate environment. Analysts predict more downside until the March Fed meeting, but remain bullish long-term. Silver dipped slightly, while platinum and palladium saw slight increases.
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