Gold faces historic monthly decline amid rate cut uncertainty. Spot gold rose 1% to $4,557.62 per ounce Tuesday as Middle East tensions eased, yet the precious metal is headed for its worst month in 17 years. Higher energy costs have dampened expectations for U.S. rate cuts, pressuring gold prices lower. Despite the weakness, Goldman Sachs maintains conviction in its bullish outlook, doubling down on a $5,400 price target. The divergence between current market weakness and Goldman's constructive stance reflects ongoing debate about future monetary policy direction and inflation dynamics. Investors are weighing near-term headwinds against longer-term economic fundamentals that could support higher gold valuations.
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