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Gold holds steady near $4,200 amid Fed rate cut expectations
Gold (XAU/USD) holds steady on Thursday, moving quietly within the $4,160-$4,260 range as investors adopt a wait-and-see approach ahead of the Federal Reserve’s (Fed) monetary policy meeting next week. At the time of writing, XAU/USD is trading around $4,200, with the cautious market backdrop keeping the metal in a consolidative phase after it climbed to a six-week high earlier this week. Markets largely expect the Fed to lower interest rates at the December 9-10 meeting. That conviction firmed after Tuesday’s US economic data showed a surprise decline in ADP Employment Change, underscoring weakening labour ... (full story)
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