Gold Prices Hinge on Fed's Rate Decision

Gold prices have stabilized after a significant increase, driven by anticipation of a US Federal Reserve interest rate cut. The precious metal, which typically benefits from lower rates, was trading near $4,130 an ounce. Federal Reserve Governor Christopher Waller hinted at a potential rate cut in December, citing a softer labor market. New York Fed President John Williams also mentioned the possibility of a near-term rate reduction. Traders are now betting on a roughly 75% chance of a quarter-point cut at the Feds final meeting of the year. Economic data releases this week, including retail sales and producer price numbers, will be closely watched. Any additional comments from Fed officials before their communication blackout begins on November twenty-ninth will also be under intense scrutiny.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.