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Gold, Silver, Copper Daily Forecast: Precious Metals Shine on Rate Cut Hopes
On Christmas Day, the silver market, trading at $24.1925, displays a calm yet cautious mood with a slight 0.90% decline. The Gold prices experienced an uptick, rising to over two-week highs, driven by a mild downgrade in U.S. third-quarter GDP and softer labor market data, which weakened the dollar to four-month lows. This surge in gold, nearing a breakout from its recent trading range, reflects anticipation of potential Federal Reserve interest rate cuts in 2024. Meanwhile, copper prices remained steady, close to four-month highs, buoyed by the same expectations of reduced rates in 2024, which could spur global ... (full story)