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The gold market is not seeing much movement in initial reaction to the latest monetary policy decision. Spot gold last traded at €2,177. an ounce, up 0.24% on the day. “Inflation has continued to fall, led by lower food and goods price inflation. Most measures of underlying inflation are easing, wage growth is gradually moderating, and firms are absorbing part of the rise in labour costs in their profits. Financing conditions remain restrictive and the past interest rate increases continue to weigh on demand, which is helping to push down inflation.
“The ECB’s decision to update its guidance suggests that an interest rate cut at the next meeting in June is very likely,” he said in a note.
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Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »