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The U.S. has the standout economy among developed nations this year as the IMF sees GDP expanding 2.7%, up from 2.5% in 2023. U.S. economic growth was revised up from the January estimate of 2.1%. The gold market continues to ignore positive sentiment surrounding the health of the U.S. economy. June gold futures last traded at $2,398.90 an ounce, up 0.65% on the day.
“With inflation projected to continue declining toward targets and longer-term inflation expectations remaining anchored, policy rates of central banks in major advanced economies are generally expected to start declining in the second half of 2024,” the IMF said.
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