Global gold price surges today May 30 2025
According to webangah News Agency, gold prices declined during Friday trading amid a strengthening US dollar as investors await key US inflation data for clues on teh Federal Reserve’s monetary policy.
Spot gold fell 0.57% to $3,299.01 per ounce, while gold futures on New York’s COMEX dropped 0.74% to $3,319.
The dollar index rose 0.2%, making bullion more expensive for holders of other currencies.
Market participants are closely watching for April’s US Core PCE Price Index release – the Fed’s preferred inflation gauge – due later today.
San Francisco Fed President Mary Daly stated Thursday that policymakers could implement two rate cuts this year but must maintain current levels until inflation clearly moves toward the central bank’s 2% target.
Lower interest rates typically benefit non-yielding assets like gold.
Meanwhile, a US federal court temporarily upheld new trump-era tariffs, and Treasury Secretary Scott Bessent confirmed stalled trade talks between Washington and Beijing require direct intervention from both presidents.
Among other precious metals:
- Silver declined 0.74% to $33.17
- Platinum fell 0.72% to $1,078.24
