Gold prices dropped on Wednesday, pulling back from a record high reached the previous day. The retreat followed hawkish remarks from Federal Reserve Chair Jerome Powell, which strengthened expectations that the central bank may slow down its rate cuts in 2025. Investors were also on edge as they awaited a crucial U.S. inflation report, which could further influence market sentiment and expectations for future monetary policy.
Gold Prices Retreat from Record High Following Powell’s Hawkish Remarks and Awaited Inflation Data
