2024-12-20 10:12
IndustriaGold Under Pressure Amid Rate Outlook
Gold is poised for a weekly decline (~2%) as the Fed recalibrates rate-cut expectations for 2024. Despite Wednesday's rate reduction, Powell's emphasis on further inflation progress dampens hopes for aggressive easing, pressuring the non-yielding asset. Robust US GDP & upward revisions to consumer spending further diminish the urgency for rate cuts. Focus now shifts to November's PCE data.
#Gold #XAUUSD #Economy
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Gold Under Pressure Amid Rate Outlook
| 2024-12-20 10:12Gold is poised for a weekly decline (~2%) as the Fed recalibrates rate-cut expectations for 2024. Despite Wednesday's rate reduction, Powell's emphasis on further inflation progress dampens hopes for aggressive easing, pressuring the non-yielding asset. Robust US GDP & upward revisions to consumer spending further diminish the urgency for rate cuts. Focus now shifts to November's PCE data.
#Gold #XAUUSD #Economy
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