Gold prices remained steady above $3600/oz despite key economic catalysts. Thursday’s CPI report showed inflation below 3%, fueling expectations of a Fed rate cut. A spike in weekly jobless claims hit a four-year high, adding pressure on the Fed to act. Gold prices didn’t spike, raising questions about fully priced rate cuts.

The CPI report met expectations, showing core inflation at +3.1% YoY and overall inflation at +2.9% YoY, below 3%. Weekly jobless claims unexpectedly rose, hitting a 4-year high, potentially paving the way for a Fed rate cut. Gold prices traded in a controlled band, reflecting market uncertainty ahead of the FOMC meeting.

Investors are questioning why gold prices didn’t climb higher despite favorable conditions. As markets anticipate a Fed rate cut, gold prices have stabilized above $3600/oz. The upcoming FOMC meeting may bring volatility as investors await guidance on future rate cuts. Stay tuned for updates on market movements next week.

Read more at Yahoo Finance: Gold Holds Steady Despite Rate Cut Buzz and Jobless Spike