💨 Abstract

Gold prices dropped on Wednesday, following Federal Reserve Chair Jerome Powell's comments indicating slower rate cuts this year. Investors awaited a U.S. inflation report, with spot gold falling 0.4% to $2,885.53 per ounce. gold futures eased 0.8%, as bullion is a hedge against inflation but higher interest rates decrease its appeal. Investors are also watching for U.S.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖