Gold price trades higher around $1,930 a troy ounce, rebounding from the losses registered in the previous week. The pullback in the US Dollar (USD) i
is extending intraday losses during the Asian session on Monday despite the upbeat US Treasury yields. Spot price beats lower around 104.60.
for August from the US, scheduled to be released Wednesday. The data could provide further insights into the inflation scenario of the country.in November or December meetings. Along with this, the Fed is expected to sustain elevated interest rates over an extended period. This hawkish tone could potentially provide further support for the precious metal.
Also, Chicago Fed Bank President Austan Goolsbee mentioned the objective of the US Federal Reserve to steer the economy onto a"golden path." This path represents a situation in which inflation decreases without triggering a recession, a challenging equilibrium that central banks frequently aim for to sustain economic stability and growth.
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