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Gold Prices Rise Slightly; Traders Assess Prospects of Fed Rate Cut
Monday, 16 December 2024 17:26 WIB | GOLD |GOLD

Gold edged higher ahead of the Federal Reserve's final interest rate decision of the year, with traders also weighing the outlook for 2025 policy.

The bullion's gains followed a 2.6% decline in the previous two sessions on the back of mixed U.S. data last week — including rising wholesale inflation and higher-than-expected jobless claims. The Fed is widely expected to cut rates by 25 basis points at its meeting on Wednesday, and swaps traders are pricing in a total of three quarter-point cuts over the next 12 months. Lower interest rates are usually positive for gold, since it doesn't pay interest.

Source: Bloomberg

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