World gold prices today (July 11) continued to increase after the US Federal Reserve Chairman Jerome Powell's report on the health of the US economy.
In reporting the nation's economic health to the House panel, Fed Chairman Jerome Powell said the US job market had "cooled significantly". This further increases speculation that the Fed will cut interest rates later this year.
The market is expecting the first interest rate cut to take place in September. In general, the market believes that Powell's statements do not contain any new hawkish information. Maybe Mr. Powell will not offer any surprises in his comments.
In reporting the nation's economic health to the House panel, Fed Chairman Jerome Powell said the US job market had "cooled significantly". This further increases speculation that the Fed will cut interest rates later this year.
The market is expecting the first interest rate cut to take place in September. In general, the market believes that Powell's statements do not contain any new hawkish information. Maybe Mr. Powell will not offer any surprises in his comments.
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