Business

  Introduction Gold prices experienced a minor retreat on Friday, but still managed to achieve a second consecutive weekly gain. The ongoing anticipation that the Federal Reserve will halt rate increases continued to impact the US dollar. At the time of writing, the spot price for XAU/USD, the gold-to-US dollar exchange rate, was trading around the $1,960 per ounce mark, marking a 0.23% decline for the day but showcasing a 0.65% increase for the week. Federal Reserve's Monetary Policy and Dollar Volatility The US dollar remained caught in a dilemma, influenced by mounting expectations that the Federal Reserve would maintain the Fed funds target range at 5.00%-5.25% during the upcoming meeting. However, there is speculation that the Fed will raise rates by 25 basis points in the subsequent meeting. The recent unexpected rate hikes announced by the Reserve Bank of Australia and the Bank of Canada have further contributed to the likelihood of a rate increase in July. The CME Fed...