Gold prices held at low levels on Friday (July 25th) morning, after previously falling on US employment data showing a strong labor market.
This decline occurred despite gold still posting a small weekly gain, as investors began to reduce their expectations for an imminent interest rate cut by the Federal Reserve.
Traders now expect the first interest rate cut to occur in October, with the total number of cuts this year likely to be fewer than two.
Meanwhile, political tensions have flared again after President Donald Trump and Fed Chairman Jerome Powell traded barbs over the renovation of the central bank's headquarters. However, Trump continues to push for an interest rate cut while stating that renovations alone are not grounds for firing Powell.
Source: Newsmaker.id
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