Gold prices rise on expectations of a December Fed rate cut
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According to the news from Mars Finance, the personal consumption expenditure data released in the United States recently met expectations, and the market is optimistic about the prospect of a 25-basis-point rate cut by the Federal Reserve in December. Gold prices rose slightly in the Asian trading session. In a research report, ANZ Research analysts stated that the overall market performance was sluggish during the Thanksgiving holiday in the United States, and the current market expects a 70% probability of a 25-basis-point rate cut in December, higher than the 56% a week ago. Meanwhile, analysts said that the geopolitical tensions in Europe following the Russian missile attack on Ukraine have also boosted demand for safe-haven assets.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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