Gold Bulls Lose Steam as Rate Cut Expectations Rise
Rising expectations of a benchmark interest rate cut by the U.S. Federal Reserve are causing gold prices to fall. With numerous investors betting that the Fed would cut interest rates after the U.S. registered weaker-than-expected growth in the first quarter of 2025, spot gold and gold futures prices experienced some losses on Wednesday. Spot gold prices fell by 0.2% to reach $3,308.32 per ounce, and U.S. gold futures dropped by 0.4% and settled at $3,319.10. Additionally, data shows that in Q1 2025, America's gross domestic product contracted at an annualized rate of 0.3% as businesses in the country scrambled to…