Gold Prices Rebound on Prospect of Fed Rate Cuts, Though Timing Uncertain
• Gold price recovers as prospects of rate cuts from the Fed strengthen after FOMC minutes • Timing of rate cuts still unclear, impacting gold's appeal; US jobs data ahead • Gold finds support after cushion from 20-day EMA; overall demand intact • Central banks biggest gold holders, added over 1,100 tonnes in 2022 reserves • Gold inversely correlated to dollar and yields; rises when interest rates fall