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Gold rises over 1% on Fed cut hopes, US data in focus
Gold prices rose more than 1% on Monday, supported by growing expectations of a Federal Reserve interest rate cut next month and ahead of fresh U.S. economic data for further clues on the monetary policy. Spot gold gained 1.2% at $4,111.86 per ounce, by 01:43 p.m. EST (1843 GMT). U.S. gold futures for December delivery settled 0.4% higher at $4,094.2 per ounce. "The market is increasingly getting convinced that the U.S. Federal Reserve is on track to cut interest rates in December," said Bart Melek, head of commodity strategies at TD Securities. New York Fed President John Williams said on Friday that U.S. interest ... (full story)
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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 ...
Gold extended gains on Tuesday to hit its highest in more than a week, brushing off a firm dollar, after dovish comments from Fed policymakers revived prospects of a US rate cut in December. Spot gold rose 0.1% to $4,140.85 per ounce by 0457 GMT, the highest since November 14, building on a 1.8% advance on Monday. US gold futures for December delivery were ...
Federal Reserve Bank of San Francisco President Mary Daly is calling for a December interest-rate cut on the view that a steeper slowdown in the labor market is both more likely and harder to manage than an inflation breakout, according to a Monday media report. "On the labor market, I don't feel as confident we can get ahead of it," Daly told the Wall ...
