Gold Shines Amid Expectations of US Rate Cut

Gold prices rose in early trading on Wednesday, extending gains for a third consecutive session,
as expectations grew that the US Federal Reserve (Fed) will cut rates next year.

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Details

Details

According to data from City Gold, the price of an ounce of gold in spot trading rose 0.5% to $1,011.50,
while the price of an ounce of gold in futures contracts rose 0.6% to $1,012.70.

The gains come as investors await data on US inflation,
which is scheduled to be released later this week.

November inflation data came in higher than expected,
leading to expectations that the Fed would raise rates early next year.

However, the US central bank signaled last week that the tightening cycle has ended,
suggesting that rates could be cut next year.

Atlanta Fed President Raphael Bostic said on Tuesday that there is no “pressing need” to cut rates
at this time given the strength of the economy.

Gold is seen as a safe haven for investors amid rising inflation and geopolitical risks.

Gold Shines Amid Expectations of US Rate Cut

Gold Shines Amid Expectations of US Rate Cut

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