Analysts: Market Concerns Over Fed Rate Cut Path Intensify, Gold Prices Set for Weekly Decline

Odaily News On Friday, New York gold futures fell below $5,100 per ounce, poised for a weekly decline. A stronger U.S. dollar, rising oil prices, and uncertainty surrounding Federal Reserve policy are weighing on gold prices. Analysts at ANZ stated: "The U.S. dollar strengthened due to its safe-haven status, particularly as rising oil prices benefit the U.S., a net energy exporter. Market concerns over the Fed's rate cut path are intensifying, with rising oil prices increasing the likelihood of a resurgence in inflationary pressures." (Jin10)