Direct: Gold prices rose at the end of Tuesday’s trading, driven by the sharp decline in the value of the dollar and Treasury bond yields, amid investor optimism about the near end of the monetary tightening cycle.
At the end of trading, futures prices for the yellow metal for December delivery rose by 0.85%, or $16.3, to $1,966.5 per ounce.
Investors now expect US interest rates to be stabilized during the Federal Reserve’s last meeting this year in December, with the possibility of cutting them at least 4 times in 2024.
This comes after inflation data in the United States showed that price growth slowed during October to 3.2% on an annual basis, compared to 3.7% in September.
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2023-11-14 21:26:16
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