Gold prices are subdued as Tuesday's
European session begins, hovering close to the lower boundary of its daily
range, slightly above $2,320. Investors are increasingly convinced that the
Federal Reserve will postpone interest rate cuts due to persistent inflation, a
sentiment reinforced by Friday's release of the US Personal Consumption
Expenditures (PCE) Price Index.
Expectations of a hawkish stance from the Fed
are boosting demand for the US Dollar, consequently diverting investment away
from gold, which doesn't yield interest.
Dr. Kamaran Qader Yaqub,
Financial consultant at Investment Spot company.
