Key Points
(Reuters) Gold prices rose on Thursday, driven by a retreating U.S. dollar and safe haven demand on the back of the Middle East conflict while investors await further U.S. economic data for a steer on interest rate expectations...
U.S. gold futures rose 0.3% to $2,030...
Gold price gains today are correlated to the softening of the U.S. dollar ahead of the release later today of the PMI number, said Ricardo Evangelista, senior analyst at ActivTrades...
We also have lingering geopolitical instability, which favours the safe-haven gold, and also uncertainty about the economic outlook, with Japan and the UK both now in technical recession alongside China...
Markets are pricing in about a 72% chance of a June rate cut, the CME Fed Watch Tool shows.. In other precious metals, spot platinum was up 1.2% at $893.45 an ounce, palladium rose 1.7% to $965.25 and silver gained 1% to $23.08...
