The LMBA’s latest Precious Metals Market Report provides an overview of Q2 2024. With the gold price rising 12.34% in the first half of 2024, although most of this increase occurred in Q1. Q2 saw a rise of 2.93%, from $2,264.55 (AM) on Tuesday, 2 April to $2,230.90 (PM) as the quarter came to a close on Friday, 28 June.
Through the second quarter of 2024, the only western world central banks to cut interest rates were the ECB, the Canadian National Bank, the Sveriges Riksbank (Sweden) and the Swiss National Bank — all of whom shifted rates downwards in June, twice in the case of the Swiss. However, despite various optimistic forecasts, sticky US inflation figures and continuing economic strength, the Federal Reserve Bank were not encouraged to follow suit.
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