3 June 2024
Gold prices inched up on Monday as investors anticipated key U.S. economic reports this week for insights into the economy’s health, following an inflation report that hinted at possible Fed rate cuts in 2024. Spot gold rose 0.3% to $2,332.91 per ounce, and U.S. gold futures increased by 0.3% to $2,353.40. The market is focused on upcoming data, including the ISM PMI reading, ADP employment report, and non-farm payrolls, to see if it indicates a soft landing for the U.S. economy.