Gold prices remained subdued on Monday after retreating from a 14-month peak in ...
- Gold prices remained subdued on Monday after retreating from a 14-month peak in the previous session, as the dollar held near multi-week highs on strong U.S. retail sales data, ahead of the U.S. Federal Reserve meeting this week.
Expectations of an interest rate cut at the Fed’s June 18-19 meeting fell to 21.7% from 28.3% on Thursday, in the wake of the strong retail data, according to CME Group’s FedWatch tool. However, bets for monetary easing at the July meeting remain high at 85%. Meanwhile, U.S. Trade Representative’s Office on Monday will kick off seven days of testimony from U.S. retailers, manufacturers and other businesses about President Donald Trump’s plan to hit another $300 billion worth of Chinese goods with tariffs.
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