il-June quarter reinforces the need for more interest-rate hikes from the Federal Reserve . The precious metal is under pressure as the US Dollar capitalizes on upbeat GDP numbers and a robust Durable Goods Orders report.
US factory activities are consistently facing the wrath of higher interest rates by the Federal Reserve. After Fed policymakers decided to remain dependent on incoming data for further action on interest rates, the essence of economic indicators increased significantly. Consumer Sentiment improves significantly in July, delivering the highest reading of 71.6 since October 2021 but misses expectations of 72.6.
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