Gold at risk of falling further
The latest data from the US signal a relatively stable state of the economy. In particular, according to the Conference Board, its consumer confidence index rose to 109.7 in June, the highest reading since January 2022.
The insufficient slowdown in inflation, coupled with good macroeconomic reports, is reassuring the markets that the US Federal Reserve, as Powell said, will carry out one or two more monetary policy tightenings. According to the CME Group, there is a 77% chance of a rate hike in July. This signals a negative outlook for gold