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Profit-taking hits gold, but Fed uncertainty supports long-term upside - Metals Focus
The gold market is seeing solid profit-taking as economists describe the Federal Reserve’s latest move as a cautious easing cycle. Still, one research firm says gold remains in a long-term uptrend. On Wednesday, the Fed cut rates by 25 basis points and signaled lower rates through year-end. Economists, however, said the move fell short of expectations for more aggressive action. Metals Focus analysts noted that the Fed’s latest dot plots show only one rate cut next year. By contrast, the CME FedWatch Tool projects rates more than 100 basis points lower by year-end 2025. “With the FOMC statement largely aligning ... (full story)
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