Investors are now focusing on upcoming PMI data, which shows how well businesses in the US and Europe are doing. The US PMI numbers, expected soon, will give clues about the health of the economy. If the data is weaker than expected, it could signal trouble for the US economy, pushing the Federal Reserve to cut interest rates. Lower interest rates typically weaken the dollar further and make gold more appealing.
#USChinaTrade
Gold Prices Drop as US-China Trade Talks Look Hopeful; Investors Watch Fed Meeting
Gold prices fell as US-China trade talk hopes reduced demand for safe-haven assets. Investors await the Federal Reserve’s policy meeting for interest rate clues. Learn more about gold, silver, and other metal prices.