Gold Analysis June 24 - Gold drops as Fed rate hike expectationsGOLD (US$/OZ)TVC:GOLDBlogngoaihoi"Gold Analysis June 24 – Gold drops below 4,100 during Wednesday's Asian session as traders reinforce the view that the US Federal Reserve (Fed) will raise interest rates this year. Yesterday, the S&P Global PMI showed that business activity remains robust. The Manufacturing PMI rose to 55.7 in June, its highest level since May 2022. Additionally, the ADP 4-Week Average Employment Change improved to 30.75k jobs, strengthening the view that the US labor market remains solid enough for the Federal Reserve to maintain its cautious stance. ==> Better-than-expected US economic data and expectations that the Fed may maintain its tight policy have capped gold's upside potential." "According to the CME FedWatch Tool, the market is currently pricing in a 70% probability of a rate hike at the September meeting. Focus now shifts to the Personal Consumption Expenditures (PCE) inflation report and the final estimate of first-quarter Gross Domestic Product (GDP), both scheduled for release on Thursday, for fresh clues on the Fed's policy outlook. Meanwhile, attention remains fixed on negotiations between the US and Iran following the 60-day Memorandum of Understanding (MoU) signed last week. While talks are progressing, the situation remains fluid and the risk of setbacks persists, particularly regarding Iran's nuclear program. The ongoing uncertainty over whether a final deal can be reached continues to support safe-haven demand for the US Dollar, thereby capping gold's upside." Read more : blog ngoại hối - https://blogngoaihoi (.) co/