⚡️Any signs of economic resilience, particularly in inflation and the labor market, give the Fed more impetus and headroom to keep raising interest rates - a scenario that is expected to weigh on gold.
⚡️The outlook for the yellow metal also remains uncertain, given that U.S. rates are set to remain higher for longer - a trend that was recently reiterated by Fed Chair Jerome Powell.
⚡️While investors broadly expect the Fed to keep rates on hold in September, they have also scaled back any bets on an interest rate cut this year.