Interest rate futures showed markets mostly priced in another rate hike from the Federal Open Market Committee (FOMC) at its July 25-26 meeting, with rate cuts seen in 2024. * Lower interest rates decrease the opportunity cost of holding non-yielding bullion. * However, Fed Governor Christopher Waller on Thursday said he was not ready to call an all-clear on inflation and favours rate hikes this year – the sentiment reflected in June’s FOMC minutes.
