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Gold prices stabilize around $2,500

Currently, gold prices are maintaining stability within a range of $2,480 to $2,530. This stability is occurring as the market anticipates a crucial decision from the Federal Reserve (Fed) during its meeting on September 17-18.

U.S. Inflation data impacting gold prices

Following the release of the latest U.S. inflation data, gold prices have dropped from $2,520 to around $2,500. The Consumer Price Index (CPI) in the U.S. increased by 2.5% year-over-year, which is lower than the forecast of 2.6%. While the monthly CPI rose by 0.2% as expected, the core CPI increased by 3.2% year-over-year, matching the previous month and exceeding the forecast.

Forecast for Fed’s Interest rate cut decision

Investors are currently awaiting the Fed’s decision on interest rate cuts. While a 25 basis point cut is anticipated as the most likely scenario, some experts believe the Fed may opt for a deeper cut of up to 50 basis points. If this occurs, gold will become more attractive to investors as it does not yield interest.

Impact of USD fluctuations

The U.S. dollar strengthened after the inflation data was released, leading to a decline in gold prices. The negative correlation between gold and the USD means gold prices fall as the USD strengthens. The appreciation of the USD is a key factor affecting gold prices in the market.

Conclusion

Gold prices are currently experiencing a period of stability around $2,500, but factors such as the Fed’s interest rate cut decision, U.S. inflation data, and geopolitical conditions could significantly influence gold price trends in the near future. Investors need to closely monitor these developments to make informed investment decisions.

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