Bullion can enter into a win-win scenario.

As investors concentrated on incoming US inflation data, which the Fed will consider as it decides when to suspend the tightening cycle, gold prices dipped.

After climbing 1.4% last week, the precious metal gained approximately 0.5% on Monday, edging closer to a record high.

Precious metals prices remain at record highs.

At the upcoming central bank policy meetings in June and July, options traders are currently placing bets on additional rate increases.

According to Oanda Senior Market Analyst Ed Moyi, rising rates often hurt non-interest-bearing bars, but they could have a positive effect on gold.

Additionally depressing investor confidence is the impending US debt limit problem, and the US dollar’s position is actually at stake if a solution cannot be found, making gold more alluring.

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