Gold Rises on Fed Rate-Cut Hopes Sabre Gold Mines 🇺🇸 "... Gold Rises on Fed Rate-Cut Hopes
"Gold prices are higher in early Asian trade amid hopes of coming U.S. Federal Reserve interest-rate cuts in 2024. The U.S. personal consumption expenditure index, the Fed’s preferred inflation gauge, fell 0.1% on month in November. The latest reading, which marked the first decline since April 2020, has consolidated market expectations that the Fed will lower interest rates soon, Xinan Futures says in a research note. Lower rates tend to boost market appetite for the noninterest bearing metal. Spot gold is 0.45% higher at $2,062.1/oz.
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