PT Solid Gold Berjangka | Gold Edges Higher After Fed Spurs Hopes Hiking Cycle Has Ended

02:14 02 November in Commodity, Gold, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP

Solid Gold Berjangka | Gold edged higher — following a three-day decline — after the Federal Reserve hinted it may be finished with its most aggressive tightening cycle in four decades.

The Fed held off raising borrowing costs for a second straight meeting on Wednesday and signaled that a recent rise in longer-term Treasury yields reduces the impetus to hike again. Lower rates are typically positive for bullion, which doesn’t offer any interest. The precious metal was also aided by a weakening dollar.

Gold is still near $2,000 an ounce after jumping 7.3% in October as fears the Israel-Hamas war would morph into a regional conflict buoyed haven demand. While the war has so far remained contained, bullion has retained most of its war-risk premium.

Spot gold rose 0.2% to $1,985.97 an ounce at 8:23 a.m. in Singapore. The Bloomberg Dollar Spot Index fell 0.3%. Silver, platinum and palladium all climbed.

Source : Bloomberg, PT SGB, Solid Gold Berjangka, Solid Group