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Uncertain Prospects for Fed Rate Cut, International Gold Prices Continue to Fall
Summary: According to sources, supported by fading expectations of a rate cut in the US next month, gold prices continued to decline for the fourth consecutive day. Early on Tuesday, spot gold was trading around $1,040 per ounce. Traders and policymakers are awaiting a large amount of data, with several Fed officials warning that they will ...
According to sources, supported by fading expectations of a rate cut in the US next month, gold prices continued to decline for the fourth consecutive day. Early on Tuesday, spot gold was trading around $1,040 per ounce. Traders and policymakers are awaiting a large amount of data, with several Fed officials warning that they will not further lower borrowing costs. The interest rate swap market currently indicates a less than 40% chance of a Fed rate cut in December.
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Link: Uncertain Prospects for Fed Rate Cut, International Gold Prices Continue to Fall [Copy]
