{"id":130267,"date":"2024-08-30T09:03:18","date_gmt":"2024-08-30T09:03:18","guid":{"rendered":"https:\/\/kinesis.money\/?p=130267"},"modified":"2024-08-30T09:05:18","modified_gmt":"2024-08-30T09:05:18","slug":"gold-gains-us-fed-move","status":"publish","type":"post","link":"https:\/\/kinesis.money\/nl\/market-analysis\/gold-news\/gold-gains-us-fed-move\/","title":{"rendered":"Gold Price News: Gold Gains As Markets Eye US Fed Moves"},"content":{"rendered":"\n

Gold prices<\/a> pushed higher on Thursday, coming within striking distance of their all-time high of $2,532 an ounce seen on August 20th<\/sup>.<\/p>\n\n\n\n

Prices rose as high as $2,529 an ounce on Thursday, compared with around $2,510 an ounce in late trades on Wednesday.<\/p>\n\n\n

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\"gold
Kinesis gold (KAU) – $\/g – from Kinesis Exchange<\/figcaption><\/figure>\n<\/div>\n\n\n

German annual inflation figures were released Thursday showing a drop to 1.9% in August, below market expectations of 2.1%. The latest figures help to justify the ECB\u2019s decision to start cutting interest rates in June \u2013 ahead of the Bank of England and US Fed \u2013 and may strengthen the case for further cuts by the EU\u2019s central bank, which would contribute to a supportive environment for precious metals.<\/p>\n\n\n\n

Meanwhile, the US GDP growth rate for Q2 came in at 3%, according to figures released Thursday, a little above market expectations of 2.8%. Nevertheless, the stronger economic growth figures were not significant enough to alter expectations that the central bank will begin its rate-cutting cycle in September.<\/p>\n\n\n\n

Data from interest rate traders suggests about two-thirds of the market expects the US Fed to cut rates by 25 basis points at its September 18th<\/sup> meeting, while the remaining third expect a cut of 50 basis points, according to the latest data from the CME FedWatch tool: CME FedWatch – CME Group<\/a>.<\/p>\n\n\n\n

Friday will see the release of Euro Area inflation figures for August and the closely-watched US Core PCE Price Index for July \u2013 the US Fed\u2019s preferred measure of inflation \u2013 for an update that could inform upcoming monetary policy decisions.<\/p>\n\n\n\t\t\t

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Frank\u2019s experience<\/a> covering the commodities markets spans 22 years, with a particular specialism in metals, carbon and energy markets.\u00a0<\/em>He has worked as a senior editor for S&P Global Commodity Insights\u00a0(formerly Platts) and before this, at ICIS-LOR, a part of Reed Business Information (Reed Elsevier), where he covered the petrochemicals markets from 2003 to 2005.<\/em><\/p>\n

This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.<\/i>
\n<\/i><\/p>\n

Read our Editorial Guidelines\u00a0<\/i>here.<\/a><\/i><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t","protected":false},"excerpt":{"rendered":"

Gold prices pushed higher on Thursday, coming within striking distance of their all-time high of $2,532 an ounce seen on August 20th. Prices rose as high as $2,529 an ounce on Thursday, compared with around $2,510 an ounce in late trades on Wednesday. German annual inflation figures were released Thursday showing a drop to 1.9% […]<\/p>\n","protected":false},"author":50,"featured_media":130299,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[215],"tags":[],"class_list":["post-130267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news"],"acf":[],"yoast_head":"\nGold Price News: Gold Gains As Markets Eye US Fed Moves - Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' gold price news analysis for today, Friday 30th of August 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"nl_NL\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold Price News: Gold Gains As Markets Eye US Fed Moves\" \/>\n<meta property=\"og:description\" content=\"Discover Kinesis' gold price news analysis for today, Friday 30th of August 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kinesis.money\/market-analysis\/gold-news\/gold-gains-us-fed-move\/\" \/>\n<meta property=\"og:site_name\" content=\"Kinesis\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-30T09:03:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-30T09:05:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kinesis.money\/wp-content\/uploads\/2024\/08\/gold-feature-image-Gold-Gains-As-Markets-Eye-US-Fed-Moves.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"529\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Frank Watson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:description\" content=\"Discover Kinesis' gold price news analysis for today, Friday 30th of August 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"twitter:label1\" content=\"Geschreven door\" \/>\n\t<meta name=\"twitter:data1\" content=\"Frank Watson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Geschatte leestijd\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minuten\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/gold-news\\\/gold-gains-us-fed-move\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/gold-news\\\/gold-gains-us-fed-move\\\/\"},\"author\":{\"name\":\"Frank Watson\",\"@id\":\"https:\\\/\\\/kinesis.money\\\/#\\\/schema\\\/person\\\/11c4884f9d074d6831f53e287228bf52\"},\"headline\":\"Gold Price News: Gold Gains As Markets Eye US Fed Moves\",\"datePublished\":\"2024-08-30T09:03:18+00:00\",\"dateModified\":\"2024-08-30T09:05:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/gold-news\\\/gold-gains-us-fed-move\\\/\"},\"wordCount\":264,\"image\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/gold-news\\\/gold-gains-us-fed-move\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/kinesis.money\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/gold-feature-image-Gold-Gains-As-Markets-Eye-US-Fed-Moves.jpg\",\"articleSection\":[\"Gold News\"],\"inLanguage\":\"nl-NL\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/gold-news\\\/gold-gains-us-fed-move\\\/\",\"url\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/gold-news\\\/gold-gains-us-fed-move\\\/\",\"name\":\"Gold Price News: Gold Gains As Markets Eye US Fed Moves - 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