Gold Moves Sideways but Still Looks Strong for a Possible Rise
Gold prices are moving in a narrow range and staying just below last week’s high. The metal has recovered from a near one-month low but hasn’t made a strong breakout yet.
A slight rise in the US Dollar and improved mood in the stock markets are stopping gold from climbing further. However, many traders still believe that the US Federal Reserve may start cutting interest rates soon, which is a positive sign for gold.
Investors are also watching how the US government handles its budget and waiting for key job reports this week. These events could affect what the Fed does next—and that could move gold prices.
Some Fed officials have hinted that a rate cut could come as early as July. There’s also a growing chance of a small rate cut in September. Lower interest rates usually weaken the Dollar and make gold more attractive.
Right now, gold prices are holding steady. There’s no big move yet, but the conditions still support a possible upward trend.
Impact :
Gold might rise again if more signs point to upcoming rate cuts. But stronger US data or a rising Dollar could cause gold to dip in the short term.