Weak dollar buoys gold price
The CME FedWatch indicates an 80-percent probability of a May Fed rate hike of 0.25%.
The CME FedWatch indicates an 80-percent probability of a May Fed rate hike of 0.25%. However, according to Reuters, almost 90% of economists surveyed believe that this rate increase will be the last in 2023 and the terminal rate will remain unchanged until year's end. The proximity to the end of the rate hike cycle is also buoying precious metals.
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