Gold prices pared Wednesday’s gains after the release of higher-than-expected US PPI. Economists at ANZ Bank analyze the yellow metal’s outlook.
Strategic investments in form of ETFs are yet to turn positive
Strong CPI and PPI numbers this week weighed on market expectations of a sooner rate cut this year.
Market pricing for a 25 bps rate cut in June is 75%, down from 95% at the start of the week. The FOMC is adopting a cautious stance and would like to see more evidence of inflation falling to the target of 2% before start cutting interest rates.
Investors will watch the Fed’s pivot to easing monetary policy before adding Gold.
Strategic investments in form of ETFs are yet to turn positive.
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