Gold weakens on Reduced Expectations of Early Fed Rate Cut

The gold price kicked off the week on a softer note after traders trimmed their bets of an interest rate cut by the US Federal Reserve in the coming months.

[{"selector":"#anim-4d771985-c2fe-49e5-a2be-c4c2521fbf17","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d9c42a69-888b-4d00-a8e5-9cb210a26989","keyframes":{"transform":["translate3d(0px, 149.57731%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-59c232c7-9f05-43fa-bd93-4f2876adbfeb [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.284043488753788%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Gold weakens on Reduced Expectations of Early Fed Rate Cut

The gold price kicked off the week on a softer note after traders trimmed their bets of an interest rate cut by the US Federal Reserve in the coming months.

Read more

According to analysts at FXStreet, gold drifted lower by breaking a two-day winning run as focus shifted to signals from leading central banks.

Read more

Gold typically gains when lower rates are anticipated as it decreases the opportunity cost of holding the non-yielding metal.

Read more

The article noted market-implied odds for a March move fell below 50% according to the CME’s FedWatch tool versus above 70% previously.

Read more

Further weighing on gold was improved risk appetite in equity markets, which was boosted by ongoing optimism around corporate earnings season.

Read more

Geopolitical tensions and fears of a global growth slowdown provided only limited support to bullion.

businessoutreach.in