Gold Set for Weekly Loss as Two-Month Peak Rally Fades
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Gold is on track for a weekly loss amid profit-taking after retreating from a two-month peak, per WSJ and CNBC.
- Gold found support from a weaker U.S. dollar, with inflation data cementing expectations that interest rates would be held steady, per Reuters.
- Gold faces a technical hurdle that must be cleared before another bullish run can resume, per Yahoo Finance.
Why it matters: The retreat from a two-month peak shows traders are taking profits even as a softer dollar and sticky inflation continue to underpin the metal. Whether gold clears that next technical hurdle will determine if this is a routine pullback or the start of a deeper reversal.
Ask SkimNews
