New Straits Times on Nostr: Gold bounces back from Fed-induced slump to one-month low ========== Gold prices ...
Gold bounces back from Fed-induced slump to one-month low
==========
Gold prices increased by 0.6% to US$2,603.60 per ounce on December 19, 2024, after hitting a one-month low earlier in the day. This followed a decline of over 2% on December 18, 2024, after the Federal Reserve cut rates by 25 basis points but indicated fewer cuts by the end of 2025. Fed Chair Jerome Powell stated that future rate reductions depend on progress in reducing inflation. Market analysts, including Kelvin Wong from OANDA and Ajay Kedia from Kedia Commodities, commented on the implications of the Fed's data-dependent stance and upcoming economic data releases, including U.S. GDP and core PCE data. Spot silver rose 0.2% to US$29.40 per ounce, platinum increased by 0.5% to US$923.94, and palladium advanced by 1.6% to US$917.25.
#Gold #FederalReserve #Economy #MarketAnalysis #Inflation #InterestRates #PreciousMetals #Investment #CommodityPrices #UsEconomy
https://www.nst.com.my/business/economy/2024/12/1150475/gold-bounces-back-fed-induced-slump-one-month-low
==========
Gold prices increased by 0.6% to US$2,603.60 per ounce on December 19, 2024, after hitting a one-month low earlier in the day. This followed a decline of over 2% on December 18, 2024, after the Federal Reserve cut rates by 25 basis points but indicated fewer cuts by the end of 2025. Fed Chair Jerome Powell stated that future rate reductions depend on progress in reducing inflation. Market analysts, including Kelvin Wong from OANDA and Ajay Kedia from Kedia Commodities, commented on the implications of the Fed's data-dependent stance and upcoming economic data releases, including U.S. GDP and core PCE data. Spot silver rose 0.2% to US$29.40 per ounce, platinum increased by 0.5% to US$923.94, and palladium advanced by 1.6% to US$917.25.
#Gold #FederalReserve #Economy #MarketAnalysis #Inflation #InterestRates #PreciousMetals #Investment #CommodityPrices #UsEconomy
https://www.nst.com.my/business/economy/2024/12/1150475/gold-bounces-back-fed-induced-slump-one-month-low