‘A rate cut, higher-than-average inflation to push up gold prices’

The probability that the Fed will raise its benchmark rate by 25 basis points to a range of 5.25%-5.50% in July was above 90% for most of the month, according to Interest Rate Futures. International gold prices ended the month around 2.7% higher. Domestic prices moved up by around 2.9%. However, there was some volatility along the way.