Gold Loses Steam After Fed Uncertainty On Rate Cut Trajectory Breeds Caution

(MENAFN- Investor Brand Network) Gold remained in losing territory as investors remained concerned about the future trajectory of Fed rate cuts. The precious metal was also dampened by the current gains in the value of the USD because a strong dollar makes it more costly for buyers holding other currencies to purchase gold.

Other precious metals like palladium, silver and platinum have also made significant gains in the wake of the Fed rate reduction. As things stand, companies like Platinum Group Metals Ltd. (NYSE American: PLG) (TSE: PTM) can count on these tailwinds to support their operations and efforts to attract...

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