Gold Nears Two-Month High Amid Anticipation of US Rate Cut

Gold prices remained close to a two-month high, influenced by last week’s weak U.S. economic data, which has increased expectations for the Federal Reserve to lower interest rates in June. As of midday GMT, spot gold was stable at $2,082.89 per ounce, while U.S. gold futures saw a slight decline of 0.2% to $2,091.50. The anticipation of an interest rate cut has buoyed gold prices, with spot gold nearly reaching the $2,088.19 mark seen last Friday, the highest since late December. Earlier in December, gold had reached an all-time high of $2,135.40, underscoring its role as a safe-haven asset amid economic uncertainty.