Gold prices in Asia stabilized in the early hours of Monday morning, supported by data showing falling inflation in the United States, raising hopes that the Federal Reserve will start cutting interest rates this year.
Spot gold settled at $2,323.74 an ounce. Prices jumped more than 4 percent during the second quarter. U.S. gold futures fell 0.3 percent to $2,333. Data on Friday showed U.S. prices were unchanged in May while consumer spending rose moderately, a trend that could bring the U.S. central bank closer to starting to cut interest rates this year.
Source (Al-Arabiya.net Website, Edited)
