💰 Gold prices steady as traders eye rate cuts 👀

💰 Gold prices steady as traders eye rate cuts 👀

"Gold prices hold around $3,350 per ounce as traders digest the latest U.S. inflation data. With the Fed possibly cutting rates in September, gold could be ready for a push!

👉 Key takeaways

• Events. July's inflation numbers came in mixed, raising the odds of a Federal Reserve rate cut. On the other hand, the extended U.S.–China tariff truce eased the tensions.

• Background. Gold prices are sensitive to rate cuts and global news. Market uncertainty usually pushes people towards gold as a safe investment. Rate cuts also make it more attractive compared to assets that earn interest.

• Possible outcome. Traders are waiting to see if talks between the U.S. and Russia will ease uncertainty, reducing gold's appeal.

👉 Tip for traders

Keep an eye on central bank moves and global tensions. Any changes in these areas could send gold soaring, so stay alert to upcoming events!"