Gold prices were stable on Tuesday as investors weighed the likelihood of a Federal Reserve interest rate cut, while preparing for signals that the central bank may adopt a slower pace of monetary easing than expected in its two-day meeting starting later today.
اضافة اعلان
Spot gold held steady at $1,186.99 per ounce at 02:31 GMT. U.S. December gold futures fell 0.1% to $1,215.80 per ounce.
Analysts widely expect a rate cut this week, accompanied by guidance suggesting a high level of conditionality for further easing next year.
The CME FedWatch tool indicates that markets currently assign an 87% probability of a 25-basis-point U.S. rate cut at the December 9–10 meeting, down from 90% on Monday.
Non-yielding assets like gold typically rise when interest rates decline.
Among other precious metals, silver remained at $58.10 per ounce after reaching a record high of $59.32 on Friday. Platinum rose 0.5% to $1,650.20 per ounce, while palladium increased 0.4% to $1,471.25 per ounce.
(Reuters)
