Ceny zlata zůstaly v úterý stabilní, zatímco ceny mědi si udržely nedávné zisky na základě optimismu, že čínská ekonomika překonala nejhorší období svých obtíží.

Precious metal prices experienced some relief in recent sessions as the dollar retreated from nearly a six-month high. However, the dollar stabilized during Asian trading on Tuesday and remained within reach of recent highs.

The outlook for inflation and interest rates in the United States remains elevated, indicating further pressure on gold prices in the coming months.

This trade has also impacted gold prices over the past year, as rising interest rates increased the opportunity cost of investing in precious metals.

Inflation in the US is expected to rise due to higher fuel costs and resilience in retail spending.

While the central bank is expected to leave rates unchanged in September, a stronger inflation reading could prompt a more hawkish stance from the Fed.

The central bank is also set to keep rates at over two-decade highs at least through mid-2024.

Such a scenario presents a dim outlook for gold as the dollar and US bond yields are likely to continue rising in a high-interest rate environment.

Lingering concerns about a US recession have also dampened demand for gold as a safe haven, although escalating trade tensions between the US and China have piqued interest in precious metals.

Source: Investing.com