Gold pushes higher as investors expect Fed will start to ease

July 16,2024

Gold headed for a back-to-back weekly gain on expectations that the Federal Reserve will trim interest rates before year-end, with traders looking ahead to US payrolls data for the next batch of clues on the outlook.

Bullion for immediate delivery traded above $2,360 an ounce after rising by more than 1% this week. Silver has also benefited from the upswing, advancing back toward $31 an ounce.

Source: Bloomberg