2024-12-18 14:36
IndustryGold Dips Ahead of Key Fed Rate Decision
Gold edged down 0.8% to $2,660/oz after mixed U.S. data showed rising jobless claims but higher wholesale inflation. Despite Thursday's 1.4% drop, gold is still set for a weekly gain as markets expect a 25bps Fed rate cut on Dec. 18, a bullish signal for non-yielding assets like gold.
With a 29% YTD surge, gold is on track for its best annual gain since 2010, driven by Fed easing, central bank demand, and safe-haven inflows. The World Gold Council predicts slower price gains in 2025 amid U.S. growth risks and geopolitical uncertainty.
#Gold #XAUUSD #FederalReserve #InterestRates
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Gold Dips Ahead of Key Fed Rate Decision
| 2024-12-18 14:36Gold edged down 0.8% to $2,660/oz after mixed U.S. data showed rising jobless claims but higher wholesale inflation. Despite Thursday's 1.4% drop, gold is still set for a weekly gain as markets expect a 25bps Fed rate cut on Dec. 18, a bullish signal for non-yielding assets like gold.
With a 29% YTD surge, gold is on track for its best annual gain since 2010, driven by Fed easing, central bank demand, and safe-haven inflows. The World Gold Council predicts slower price gains in 2025 amid U.S. growth risks and geopolitical uncertainty.
#Gold #XAUUSD #FederalReserve #InterestRates
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