Gold edged up in early Asian trade on Monday (12/16). Investors are focused on this week's Federal Reserve meeting, Pepperstone's Quasar Elizundia wrote in an email. While markets are expecting a 25 bps rate cut, the Fed's economic projections and the ‘dot plot' could provide more clarity on the outlook for monetary policy in 2025, Elizundia said.
Gold faces a challenging medium-term outlook with its price action closely tied to expectations for monetary policy and its impact on bond yields. The ability of central banks to manage inflation will be critical in shaping gold's future performance, Elizundia added. Spot gold was up 0.1% at $2,650.64/oz.
Source: Dow Jones Newswires
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