Gold Regained Some Ground On A Slight Pullback In The US Dollar And Treasury Yields.
Gold posted a gain of 0.41%, settling at 62574, driven by a slight pullback in the U.S. dollar and Treasury yields. Traders were positioning themselves based on upcoming remarks from Federal Reserve officials to gauge the potential pace of interest rate cuts this year.
Two Fed members noted that inflation could continue to decrease amid a strong economy, suggesting the central bank may take its time before deciding on interest rate cuts. Fed Chair Jerome Powell emphasized the need for prudence in deciding when to cut benchmark interest rates, given the current strength of the economy.