Gold staged a partial recovery following a run of losses as traders weighed conflicting views from Federal Reserve policymakers about the chance of more rate cuts.
Bullion rose as much as 0.9% to trade near $3,967 an ounce after falling almost 5% over the previous four sessions. Fed Chair Jerome Powell downplayed the likelihood of a December reduction after a widely expected quarter-point cut on Wednesday. Still, despite Powell’s unusually direct remarks, the vote marked the third straight meeting in which officials lodged dissents against the majority decision — a run not seen since 2019.