Gold Edges Higher After Sharp Selloff, Fed Hike Bets Weigh
- Gold rose modestly after falling nearly 3% in the previous session, with spot gold reaching US$4,043.62 per ounce.
- The CME FedWatch tool showed traders pricing in a 100% probability of a Federal Reserve rate increase in December, up from 84%.
- Analysts said technical buying and profit-taking supported gold’s recovery, while expectations of tighter policy limited gains.
- Silver and palladium also gained.
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18 Articles
Gold prices rose 0.3% after severe losses at the previous session, but next month ' s prospects for raising US interest limited its gains, with the prospects for monetary tightening in December reaching 100% according to the Fedwatch tool.
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Business TimesGold edges higher after sharp selloff, Fed hike bets weigh
Gold prices edged higher on Wednesday after a nearly 3% slide in the previous session, but gains were limited as stronger-than-expected US inflation data cemented expectations of a Federal Reserve interest rate hike next month, weighing on bullion. Spot gold was up 0.3% at $4,043.62 per ounce by 0303 GMT after falling nearly 3% to $4,017.21 on Tuesday. US gold futures for December delivery gained 0.5% to $4,051.10. “We’re seeing a technical retr…
Gold rebounds after sharp selloff though Fed hike bets weigh
www,finanzasdigital.com The prices of gold in cash registered a slight rebound this Wednesday to be quoted on the barrier of $4,000 per ounce. The movement...
Gold Rebounds as US Inflation Keeps Rate-Hike Fears in Focus
Marsad Al Dahab reported that gold prices rose in Egypt's local markets and on the global exchange during Wednesday's trading session, as the precious metal attempted to recover part of its sharp losses from Tuesday. Investors remained focused on US inflation developments and their implications for the Federal Reserve's monetary policy, amid growing expectations that the central bank will maintain a restrictive stance in the coming period.
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