Gold prices were supported by lower-than-expected inflation in the US, UK, New Zealand and Australia, which could result in central banks pausing their interest-rate increase plans. However, after the narrative of a “peak rate” pushed US yields lower, rising yields allowed a US dollar index recovery
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend