PT Solid Gold Berjangka | Gold Holds Gains as Markets Boost Fed Rate-Cut Bets in 2024

01:29 20 December in Commodity, Gold, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP

GOLD EMAS Spot Gold PT SGB Solid Group SG Berjangka Solid Gold Berjangka

Solid Gold Berjangka | Gold held two days of gains as markets boosted bets on expectations for Federal Reserve rate cuts early next year, even as policymakers continue to push back against the prospect.

The precious metal surged to a record earlier this month after the central bank signaled it would loosen monetary policy in 2024. Swaps markets are now pricing in more than a 70% chance of a cut to borrowing costs at its March meeting, despite Atlanta Fed President Raphael Bostic telling an audience there was no urgency to end its restrictive stance. Higher rates are typically negative for non-yielding bullion.

Investors will look to US data readouts this week, including the PCE deflator, for fresh clues on whether the Fed is reining in inflation. That’s key to it loosening monetary policy next year.

Gold was flat at $2,040.86 an ounce as of 7:57 a.m. in Singapore, after gaining about 1% over the previous two sessions. The Bloomberg Dollar Spot Index was little changed. Silver, palladium and platinum were all steady.

Source : Bloomberg