As a result of the Fed’s 2023 rate hike standstill and a muted CPI, gold stabilizes
The price of gold yesterday dropped by 0.2% to settle at 58853 as demand for bonds in the secondary market increased due to the CPI report coming in lower than expected, supporting market predictions that the Fed won’t raise interest rates this year. Compared to estimates of a 3.3% increase, consumer prices in the US…