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The Pulse on Commodities: ING Cautions on Gold Market, Focus on Federal Reserve Speakers

Silver, gold and oil

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Gold prices (XAUUSD:CUR) experienced a slight dip, following a 2.5% uptick last week, impacted by diminished rate cut prospects from the Federal Reserve. Conversely, oil prices observed a rise, with traders closely monitoring demand-supply dynamics.

Recent statements from U.S. central bank officials hinting at a less dovish stance and the speculation of a potential delay in easing measures have diluted the appeal of gold as a non-interest bearing asset. Market sentiment now leans toward the Federal Reserve commencing its rate cut cycle come September.

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