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Gold Advances as Traders Bet on December Rate Cut, Await US Data

From finance.yahoo.com

Gold advanced as traders bet that the Federal Reserve will deliver an interest-rate cut next month amid signs of a weak labor market. Federal Reserve Governor Christopher Waller fueled optimism on Monday after indicating support for an interest-rate cut next month. New York Fed President John Williams had a similar impact on the market on Friday after he said a near-term rate cut remains a possibility. While the central bank’s December meeting is the next big milestone for markets, investors are relying on dated economic data due to delays caused by the US shutdown. Swap traders now see a 70% chance of a rate cut at ... (full story)

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  • Category: Fundamental Analysis