Gold prices moved cautiously at the start of the Asian session; spot gold was around $3,944,000/oz at the time of writing. Pressure stemmed from comments by Jerome Powell, who emphasized that a December interest rate cut was not a certainty, prompting market participants to reduce bets on further easing. This statement also boosted the dollar and Treasury yields, thus dampening interest in non-coupon gold.
Meanwhile, the Fed's decision to cut interest rates by 25 bps and end its balance sheet contraction on December 1st continued to increase liquidity and lower short-term real interest rates—a combination that typically supports gold after last week's sharp correction. In the near term, the market is reassessing the December outlook while monitoring the direction of the dollar and yields; the $3.90,000–$4.00,000 zone is a key psychological area for sentiment. (asd)

At the time of this analysis, the gold price was at $3,944.
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.

Source: Newsmaker.id