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Gold Price and US Inflation Rate

Gold prices (XAU/USD) saw a modest rise on Friday, driven by a weaker US dollar and declining US yields.

Traders are increasingly betting on a Federal Reserve interest rate cut this year following the latest weaker US GDP data.

Additionally, geopolitical risks and conflicts in the Middle East could further boost gold, which is traditionally seen as a safe-haven asset.

Conversely, Chicago Fed President Austan Goolsbee noted on Thursday that housing inflation remains a significant issue for price growth, and the US labor market remains strong. Atlanta Fed President Raphael Bostic indicated that an interest rate cut in July is unlikely due to slowed inflation progress.

Meanwhile, New York Fed President John Williams acknowledged that inflation is still too high but expressed confidence that it will begin to decrease later this year.

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