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On Thursday (May 18th), the trading day for gold futures opened at $1981.02 per ounce, with the highest reaching $1984.69 per ounce and the lowest touching $1980.64 per ounce. As of the time of writing, it was reported at $1984.50 per ounce, up by 0.16%. Federal Reserve officials continue to be hawkish, with some Fed officials making hawkish comments on Tuesday (May 16th) that have pushed the market to bet on the Fed delaying rate cuts, causing the gold price to fall below the $2000 mark. According to CME‘s “FedWatch” tool, traders currently expect an almost 80% chance that the Fed will maintain interest rates in June, with only a slightly higher than 50% chance of rate cuts in September.
