Gold prices are advancing amid a slump in global equities and on the back of expectations that the US Federal Reserve (the Fed) will cut interest rates at least twice this year, beginning in July. The price of the precious metal rose to a more than 13-month high on Friday, June 7, after unexpectedly weak US jobs data raised hopes that it would provide the necessary trigger for the Fed to ease rates.
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Federal Reserve System
Volatility has made its return to the United States’ stock market, albeit not the way bullish investors would like. A recent decline in the US equities market erased the gains of many weeks in a matter of days in both the Dow Jones Industrial Average and the S&P 500 indices.