Gold prices were stable in the morning trading session in Asia. This precious metal was supported by the prospect of a US Federal Reserve (Fed) interest rate cut, which typically makes gold more attractive because it offers no interest yield.
Fawad Razaqzada, a Global Macro market analyst at FOREX.com, stated that the current US interest rate environment opens the door to policy changes. He believes that with the US annual key interest rate hovering around 2.7%, the Fed's rate cut could occur earlier, even as early as 2026.
He also believes that the short-term outlook for gold remains quite positive. The current gold price is said to be getting closer to the record high reached last October, and the gap is now not too far.
Meanwhile, the spot gold price remained relatively unchanged. In the last trading session, gold was trading at $4,333.75 per ounce, reflecting the market's continued anticipation of the next direction in interest rate policy. (az)
Source: Newsmaker.id
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