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Gold News: Profit-Taking Stalls Gold Rally Despite Bullish Fed Rate Cut Bets
Spot Gold (XAUUSD) prices eased on Friday, December 5, closing at $4,198.69 per ounce, down $10.08 or 0.24%, as traders locked in profits after an impressive midweek rally. Spot gold had briefly pushed to $4,259.34 during the session before retreating to an intraday low of $4,192.05—just under key Fibonacci support at $4,192.36—but buyers managed to reclaim that level into the close, showing some resilience ahead of next week’s policy risk. The rally earlier in the week was driven by growing conviction that the Federal Reserve will cut rates at its December meeting. Fed funds futures on Friday showed markets ... (full story)
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