Gold prices are trading in today’s Asian session above 2390 levels.
Gold prices stabilised in Asian markets on Thursday following robust gains in the previous session, propelled by subdued inflation figures that drove the dollar to its lowest point in a month and raised anticipations of forthcoming interest rate reductions.
The precious metal has now returned within reach of the peak levels reached in May, with traders amplifying their expectations of rate cuts from the Federal Reserve possibly commencing as early as September. Wednesday saw a notable decline in the dollar due to these speculations, consequently bolstering prices across the broader spectrum of metals.
