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Expectations of Fed rate cut in December push gold prices higher
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2024-11-29 10:32:01 6,854
Golden Finance reported that the recently released personal consumption expenditure data in the United States were in line with expectations, and the market was optimistic about the prospect of the Federal Reserve cutting interest rates in December. Gold prices edged higher in early Asian trading. ANZ research analysts said in a research report that the overall market performance was sluggish overnight during the U.S. Thanksgiving holiday, and the commodity market currently predicts a 70% probability of a 25 basis point interest rate cut in December, up from 56% a week ago. %. Meanwhile, geopolitical tensions in Europe following a Russian missile attack on Ukraine also boosted demand for safe-haven assets, analysts said. (Golden Ten)
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