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Gold flat as investors await more Fed cues after widely expected cut
Gold prices were flat on Friday as the Federal Reserve’s 25-basis-point rate cut and the outlook on further easing in the months ahead failed to meet the investors’ dovish expectations, while markets awaited more cues into U.S. policy path. Spot gold was little changed at $3,646.23 per ounce as of 0311 GMT. Bullion had hit a record high of $3,707.40 on Wednesday. U.S. gold futures for December delivery were also flat at $3,678.90. “Sentiment is still bullish but has definitely cooled off a bit. Basically, the Fed didn’t really deliver with the dovish guidance needed for gold to push higher,” Capital.com ... (full story)
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