Gold prices trades in negative territory near $2,325 in Monday’s early Asian session. Inflation in the US eased to its lowest annual rate in more than three years. The Middle East geopolitical tensions and the political uncertainty of France’s parliamentary election drag the Greenback lower. Gold prices edges lower to $2,325 on Monday during the early Asian trading hours. The precious metal loses ground amid a continuation of theFederal Reserve’s cautious stance.
8% in April, matching expectations. The Federal Reserve Bank of San Francisco PresidentMary Dalysaid on Friday that monetary policy is working, but it’s too early to tell when it will be appropriate to cut the interest rate. Daly further stated, If inflation stays sticky or comes down slowly,rates would need to be higher for longer.” It’s worth noting that a higher interest rate generally weighs on the Gold price as it increases the opportunity cost of holding non-yielding assets.
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