Gold and copper prices held steady last Friday as strong U.S. services sector activity supported the case for a more hawkish Federal Reserve, according to Gold10. Gold prices have risen slightly since then, as investors look forward to new PCE data and comments from policymakers to gauge the possible timing of a rate cut. Fed Chairwoman Daly said on Monday that a rate cut would be necessary if inflation falls rapidly or the labor market cools more than expected. Fed Governor Bowman said she sees many upside risks to the inflation outlook and reiterated the need to keep interest rates high for some time.
