Key Points
(Reuters) Gold prices lingered close to a two-month high on Monday, after softer U.S. economic readings last week cemented prospects of an interest rate cut in June by the Federal Reserve...
Spot gold edged 0.1% lower to $2,081.11 per ounce, as of 0400 GMT, but hovered near $2088.19, a level seen on Friday when the contract hit its highest since Dec. 28..
U.S. gold futures fell 0.3% to $2,090.00...
The key drivers for gold is whats going to happen on the interest rate front and we saw a move higher in gold on Friday because a series of macro releases out of the U.S. moved the narrative towards the Fed possibly decreasing rates sooner than expected, Marex analyst Edward Meir said...
Gold prices rose about $50 last week, with absolutely all of the gains coming on the last two days on the back of poor U.S. manufacturing and construction spending data and easing price pressures, according to the Feds preferred inflation gauge...
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