Federal Reserve rate cut bets are still on the table for June.
Gold price is slowely but surely making its way higher this Monday as President Trump remains silent on tariffs.
Gold's price (XAU/USD) is set to revisit the high in the Asian session near $2,876 at the time of writing after a steady positive Monday thus far. Tariffs are still set to hit on Tuesday for Mexico and Canada and additional tariffs on China, they are not really triggering another flight into Gold. Traders will need to look for new headlines about tariffs, and there is still the chance that United States (US) President Donald Trump will change his mind.
Meanwhile, traders are still digesting Friday's turn of events. The spat between Ukraine President Volodymyr Zelenskyy on one side and US President Trump and Vice-President J.D. Vance is still making headlines. The surprise move that took place afterward in London, with the United Kingdom extending several billions in loans to be covered with the frozen Russian assets in Europe, was actually something that President Trump was after. With no rare earth deal in place, the televised spat in the Oval Office, and now London reeling in the agreement on the frozen Russian assets, all bets could be off the table with even possibly the US withdrawing from NATO.
Ghana's new central bank chief, Johnson Asiama, has suspended the West African nation's program of paying for Oil with Gold and said he expects the Ghana cedi (GHC) to stabilize after its volatility of last year, Bloomberg reports..
The CME Fedwatch tool shows a 77.6% chance of a lower monetary policy rate for the Federal Reserve (Fed) in June, while the odds of keeping it unchanged are 22.4%.
At 18:00 GMT, Federal Reserve Bank of Richmond President Thomas Barkin delivers a speech, "Inflation Then and Now", in Fayetteville Cumberland Economic Development.
The US 10-year benchmark rate is currently trading around 4.23% on Monday, a touch higher from its fresh low at 4.19% on Friday.
source: fxstreet
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