📈 Market analysis: Gold Hovers Close to Eight-Week Low Amid Rising Dollar Strength
Gold stopped its four-day drop as a strong U.S. dollar continued to pressure prices, even though U.S. inflation data raised expectations for a Federal Reserve rate cut next month. The dollar’s strength made gold more expensive for international buyers. Gold is down over 7% from its October high but is still up about 25% this year due to the Fed's policies and safe-haven demand. As of 8:25 a.m. in Singapore, gold was steady at $2,574.55 per ounce.
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