28 August 2024
Gold prices retreated by 1% on Wednesday, influenced by a strengthening dollar and market uncertainty ahead of crucial economic events. Investors are closely watching Nvidia’s earnings report and upcoming U.S. inflation data, which could provide insights into the Federal Reserve’s future interest rate decisions. Despite this dip, gold remains up 21% year-to-date, supported by rate cut expectations, safe-haven demand, and central bank purchases.