Gold edges higher as dollar slips; Fed outlook in focus
Gold prices rose slightly due to a weaker dollar, while awaiting further information on the monetary policy of the US Federal Reserve. Spot gold increased by 0.2% to $2,032.48 per ounce, and US gold futures rose by 0.1% to $2,039.00. The drop in the US consumer prices annual increase rate might cause the central bank to pause further interest rate increments next month. Meanwhile, investors expect a hold on the rates of the US central bank in June, and the Bank of England is forecasting a potential increase in borrowing costs.