"Gold price heads for best month in over a year"

" Gold price heads for best month in over a year \r\n\r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\nGold rose again on Thursday and is bound for its biggest monthly rise since November 2022 on the back of a blistering rally spurred by bets on US interest rate cuts and strong safe-haven demand.\r\n\r\nSpot gold was up 0.9% to $2,210.80 per ounce by 9:05 a.m. EDT, on track for a monthly gain of over 8% and a second straight quarterly rise. US gold futures edged 1.0% higher at $2,236.20 per ounce.\r\n\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\nGold\u00a0 hit a record high \u00a0this time last week after the Federal Reserve confirmed plans for three rate cuts in 2024.\r\n\r\nSince then, it has held near the all-time peak as traders hunker down for more US data that could influence the central bank\u2019s monetary strategy.\r\n\r\n\u201cGold seems to be on standby after a three-day rally with investors on the sidelines ahead of key US data,\u201d said FXTM senior research analyst Lukman Otunuga\u00a0 in a\u00a0 Reuters\u00a0 note .\r\n\r\nOn the radar are the weekly US initial jobless claims report due later in the day, followed by the US core personal consumption expenditure (PCE) price index report on Friday.\r\n\r\n\u201cMore signs of cooling price pressures may reinforce expectations around the Fed cutting rates \u2013 ultimately boosting appetite for gold. However, a sticky report is likely to drag the precious metal lower,\u201d Otunuga added.\r\n\r\nOn the flip side, Fed Governor\u00a0Christopher Waller\u00a0stressed that recent economic data would warrant a delay or a reduced amount of interest rate cuts.\r\n\r\n\u201cThe market therefore seems to be underestimating the risk that US rate cuts will come later and be less substantial,\u201d Commerzbank said in a note.\r\n\r\nTraders are currently pricing in a 64% chance of a June cut,\u00a0 Reuters\u00a0 said, citing CME Group\u2019s FedWatch tool.\r\n\r\n \r\n \r\n \r\n "

"Gold price heads for best month in over a year"

“I’m Not the Only Drunkard!”: Justice Blay’s Shocking Claims Rock Asante KotokoAMP

Kudus Vows to Dazzle Tottenham Fans After Joining From West HamAMP

Standard Chartered Declares Dividend at 55th Annual General MeetingAMP