💨 Abstract

Gold prices dropped on Wednesday after Federal Reserve Chair Jerome Powell indicated slower rate cuts this year, and ahead of a key U.S. inflation report. Gold had reached an all-time high on Tuesday, but retreated to $2,894.69 per ounce. The U.S. Consumer Price Index (CPI) report, due later in the day, is expected to show a 0.3% increase in January.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖