Gold prices hover near record levels amid a weak dollar and anticipation of U.S. inflation data

Gold prices stabilized near record levels during Monday’s trading sessions,
supported by a decline in the U.S. dollar,
while investors await the key inflation data to be released later this week.

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Over the past week, U.S. President Donald Trump escalated his plans to impose new tariffs,
adding lumber and forestry products to his previous list—which already includes imported cars,
semiconductors, and pharmaceuticals—with the tariffs possibly taking effect next month or even sooner.

Investors are now turning their attention this week to the Personal Consumption Expenditures (PCE) price index,
the Federal Reserve’s preferred measure for monitoring inflation, which is scheduled for release on Friday.
This data will be crucial in determining the course of interest rates,
as continued inflationary pressures could prompt the U.S. Federal Reserve to keep interest rates high for a longer period,
potentially affecting gold’s appeal as a safe haven.

On the geopolitical front, Trump retracted his earlier statements on Friday,
admitting that Russia had indeed invaded Ukraine.
He also revealed that an agreement between Kyiv and Washington on strategic minerals is nearing, as part of efforts to end the war.

The spot price of gold recorded a 0.1% increase, reaching $2,939.91 per ounce after hitting an all-time high of $2,954.69 on Thursday,
while U.S. gold futures stabilized at $2,953.30. In contrast, the U.S. Dollar Index declined by 0.18%,
which supported the ongoing strength of the precious metal.

In the equity markets, Nvidia is set to announce its financial results on Wednesday after the market closes,
amid significant anticipation from investors,
given its leading role in the semiconductor sector and its investments in artificial intelligence.

Gold prices hover near record levels amid a weak dollar and anticipation of U.S. inflation data

Gold prices hover near record levels

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