A higher for longer monetary policy is spooking gold; prices see the biggest drop in eight months

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- While central bank purchases and robust Asian demand have created a long-term uptrend in gold, uncertainty surrounding the Federal Reserve's monetary policy continues to generate significant short-term volatility.Fed will cut five times this year, driving gold to $3,000 by H1 2025 – Citigroup’s Max Layton

-The gold market has managed to bounce off of its nearly two-week lows, but solid activity in the U.S. manufacturing sector could weigh on the precious metal ahead of the Memorial Day long weekend.Bitcoin trades above $68k, Ether consolidates near $3.7k following surprise ETH ETF approval

 

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