The Bureau of Labor Statistics releases an inflation report every month. This report gives economists, investors and consumers an idea of how fast prices are growing in the United States. And, the state of price growth in the United States can impact financial markets. The precious metals market may also react to the next inflation report. And, that means the report can cause the price of gold to move. The next inflation report will be released on July 11, 2024.
And, if a rate cut happens, rates on bonds, deposit accounts and other interest-based safe havens could fall - making them less attractive to investors. If that happens, gold demand could rise as investors look for ways to improve their safe haven allocations. Prepare for the upcoming inflation report by adding gold to your portfolio today. Gold's price is down from its May 20 highGold's price has seen impressive growth this year.