GOLD (May 30) trades below 1,950 ahead of CB . data
With market expectations tilted towards another rate hike in June and with the debt ceiling poised for a congressional vote, gold is taking a break below $1,950. After a hectic weekend, spot gold was steady and flat for the day, last trading at $1,946.
Besides debt ceiling issues, gold is focusing on the Federal Reserve's upcoming interest payment decision. Gold fell last week amid signs of a recovery in the US economy. Lam play also remains at a high level. This could lead the Fed to maintain a tighter monetary policy.
The prospect of a Fed rate hike in June will draw even more attention, as we contrast how rising US data compares to data flows in other major economic platforms.
Besides debt ceiling issues, gold is focusing on the Federal Reserve's upcoming interest payment decision. Gold fell last week amid signs of a recovery in the US economy. Lam play also remains at a high level. This could lead the Fed to maintain a tighter monetary policy.
The prospect of a Fed rate hike in June will draw even more attention, as we contrast how rising US data compares to data flows in other major economic platforms.
