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Gold Prices Up on Rate Cut Expectations


Friday, 14 June 2019 13:39 WIB

GOLDEMAS


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Gold prices gained on Friday in Asia on rate cut expectations, but gains were capped by a rebound in U.S. stocks.

Gold futures for August delivery, traded on the Comex division of the New York Mercantile Exchange, were up 0.4% at $1,348.95 per ounce by 01:15 AM ET (05:15 GMT).

The U.S. Federal Reserve is expected to keep rates unchanged at its meeting on June 19, but markets believe the likelihood of a rate cut before the end of the year has increased due to slowing inflation and rising trade tensions.

Expectations of a cut rose further after data showed the number of Americans filing applications for unemployment benefits rose unexpectedly for the week ended June 08.

Source : Investing.com


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