The Fed is unlikely to cut interest rates, given the higher-than-expected inflation this week.
On Friday, Mining Audience Managers recorded the Kitco Roundtable.
Gold investors could see more volatility next week as the US Federal Reserve is expected to signal it is not ready to cut interest rates before the summer.
This weakness comes as the Federal Reserve's recommended inflation measure, the Core Personal Consumption Expenditures (PCE) index, shows that inflation continues to be higher than recommended, rising 2.8% year-on-year in March, compared to the expected 2.7%. This is due to the fact that it has been shown that it exceeds the standard.
The Fed will announce interest rates on Wednesday, followed by a press conference by Federal Reserve Chairman Jerome Powell. Metals are not retreating due to profit taking. Some gold investors believe that concerns about debt and fiscal deficits will push gold higher in the coming months.
In midweek, Bloomberg reported that BHP Group had made an unsolicited offer for Anglo American.
BHP Group is the world's largest diversified miner with a market capitalization of approximately $150 billion.
The deal could be worth $39 billion, making it one of the largest mining deals in decades. BHP has an interest in Anglo American's copper assets. Anglo American is expected to produce between 730,000 and 790,000 tonnes of copper in 2024, primarily from its operations in Chile and Peru.
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