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Gold Rally Continues as Dollar Weakens on December Rate Cut Speculation
Summary by Blockonomi
2 Articles
2 Articles
Two weeks before the Fed's next interest rate decision, the confidence on Wall Street is growing that the central bank will ease the reins in monetary policy, which will boost US exchange rates, including the benefit of Bitcoin.
Gold Rally Continues as Dollar Weakens on December Rate Cut Speculation
TLDR Gold climbed 0.9% to $4,166.13 per ounce following weak US economic data that increased December Fed rate cut expectations September retail sales growth stalled and core producer inflation dropped more than forecast, showing continued economic slowdown Probability of a 25 basis point Fed rate cut on December 9-10 jumped to 80.7% from 42.4% one week ago US dollar index declined 0.5% from six-month highs, making gold more affordable for inte…
Coverage Details
Total News Sources2
Leaning Left0Leaning Right1Center0Last UpdatedBias Distribution100% Right
Bias Distribution
- 100% of the sources lean Right
100% Right
R 100%
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