Gold prices held steady around $3,380 per ounce during the Asian trading session on Tuesday (May 8) amid strong expectations of a Fed interest rate cut in September, fueled by weak US employment data last Friday.
Market sentiment was also strengthened by political uncertainty regarding the Fed's independence following the resignation of Governor Adriana Kugler. Gold has risen nearly 30% this year, with projections of breaking $4,000 per ounce in 2026.
Gold prices at the time of writing were at $3,380/Toz.
DISCLAIMER
Note: This article is analytical only and is not a definitive reference. Consider fundamental and technical developments in trading before making investment decisions.
Source: Newsmaker.id
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