Weekly Market Wrap: Gold Up On the Week

Gold Surges to Near All-Time Highs as Inflation Data and Rate Cut Expectations Drive Market Dynamics ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ [GOLD PRICE LOGO]( WHERE THE WORLD CHECKS THE GOLD PRICE   [Gold Price Recap]( ⏱️ Gold in 60 Seconds Current [Gold Spot Price]( $2,508.18 Happy Friday, traders. Welcome back to our [weekly market wrap-up,]( where we dive into the economic events and market news that have significantly impacted gold prices and other precious metals throughout the week. This week, gold prices surged close to all-time highs, driven by key economic factors that influenced investor sentiment. Early in the week, gold saw significant gains as expectations for interest rate cuts by the Federal Reserve grew, fueled by a favorable update on US consumer inflation data. The Consumer Price Index (CPI) report on Wednesday showed a slight decline in both core and headline inflation, reinforcing the possibility of a Fed rate cut as early as September. However, midweek trading saw gold prices temporarily dip as stronger-than-expected retail sales data boosted the US dollar and Treasury yields. Despite this volatility, gold prices rebounded as the dollar's rally proved short-lived, and markets remained focused on the likelihood of a near-term rate cut. As the week concluded, gold was poised to close at or near record highs, reflecting the ongoing influence of economic data on market dynamics. [Read the Full Market Recap](   [Advertisement](   [BUY GOLD & SILVER AT JM BULLION](   📰 Top Stories [Goldprice News]( August 16, 2024: Gold soared to a new all-time high on Friday, buoyed by rising tensions in the Middle East and a weaker dollar, and cemented market confidence that policymakers would move to reduce interest rates in September... [Read More](   [Goldprice News]( August 15, 2024: Gold prices faced early pressure on Thursday following robust U.S. retail sales data that trounced Wall Street expectations and a decrease for the second straight week in initial unemployment claims... [Read More](   Stay Informed - Get Our App! [Twitter]( [Instagram]( No longer want to receive these emails? [Unsubscribe](. GoldPrice.org 10440 N. Central Expressway Suite 800 Dallas, TX 75231