Gold Falls Again After Biggest Daily Slump in Almost Two Years Bloomberg

Image for article Gold Falls Again After Biggest Daily Slump in Almost Two Years  Bloomberg
News Source : Bloomberg

News Summary

  • US business activity expanded in April at the slowest pace this year
  • The S&P Global flash April composite index of output at manufacturers and service providers showed the first contraction in six months
  • The weaker report underpins the case for rate cuts, which would support non-interest bearing gold
Gold extended losses after its biggest daily decline in almost two years, with easing tension in the Middle East and signs the Federal Reserve will keep rates higher for longer crimping demand.The [+287 chars]

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