Gold falls as investors wait for U.S. economic data
Gold prices fell nearly 1% as investors took profits ahead of key U.S. economic data. Spot gold dropped, while U.S. gold futures declined. The recent decline in gold prices seems driven by profit-taking. Investors are now waiting for the U.S. gross domestic product (GDP) reading and personal consumption expenditure (PCE) data. These reports will help predict when the Federal Reserve might cut interest rates.
Read more to find out why gold prices dropped.
Disclaimer:
Investors should monitor the upcoming economic data closely, as it will influence market expectations and strategies. The potential for a Federal Reserve rate cut could impact gold prices, but the outcome of the data releases will be critical in shaping future market trends.
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