Gold price trades with a negative bias on Thursday. The hawkish stance of the FOMC minutes from last month’s meeting might cap the precious metal’s upside. Investors will focus on the first reading of US PMI data for May, due on Thursday.
The Gold price gains traction amid the weaker US Dollar on Thursday. The recent CPI report showed inflation in the US slowed in April, prompting market players to increase their bets on the US Fed rate cuts this year.
Gold price edges higher for the second consecutive day on Friday. Weak employment data bolstered the speculation that the weakening economy would force the Fed to cut rates.
