Gold\u00a0was broadly steady on Thursday after hitting a near two-week high in the previous session, as market participants weighed the possibility of a December U.S. interest rate cut amid conflicting signals from the Federal Reserve.<\/p>\n
Bloomberg | Bloomberg | Getty Images<\/p>\n
Gold\u00a0was broadly steady on Thursday after hitting a near two-week high in the previous session, as market participants weighed the possibility of a December U.S. interest rate cut amid conflicting signals from the Federal Reserve.<\/p>\n
Spot\u00a0gold<\/a>\u00a0was down 0.2% at $4,154.09 per ounce, as of 0200 GMT. U.S.\u00a0gold\u00a0futures<\/a> for December delivery fell 0.3% to $4,151.20 per ounce.<\/p>\n “At this moment the Fed isn’t clear in terms of what they’re going to do next and\u00a0gold\u00a0is just consolidating before the run up (to the Fed meeting) beginning this week,”\u00a0GoldSilver Central MD Brian Lan said.<\/p>\n Conflicting\u00a0signals on the timing and magnitude of rate cuts have accelerated, hedging flows into swaptions and derivatives tied to overnight rates, with investors seeking protection against heightened policy uncertainty.<\/p>\n Some\u00a0Fed officials, led by New York Fed President John Williams and Governor Christopher Waller, have stated a December easing may be warranted due to the labor market weakness putting downward pressure on Treasury yields.<\/p>\n Benchmark 10-year Treasury<\/a> yields\u00a0held near one-month lows in the previous session.<\/p>\n Their stance, however,\u00a0contrasted\u00a0with several\u00a0regional\u00a0Fed presidents advocating a pause in easing until inflation shows a more convincing move toward the 2% target.<\/p>\n Meanwhile, Kevin Hassett, who has emerged as a\u00a0frontrunner\u00a0to replace Jerome Powell as Fed Chair, like U.S. President Donald Trump, has said rates should be lower.<\/p>\n U.S. rate futures are pricing in an 85% chance of a rate cut in December, according to the CME’s FedWatch tool.<\/p>\n Non-yielding\u00a0gold\u00a0tends to perform well in a low-interest-rate environment.<\/p>\n Weekly jobless claims\u00a0fell\u00a0last week,\u00a0data\u00a0on Wednesday showed, though the labor market is struggling to generate enough jobs for those out of work.<\/p>\n U.S. consumer confidence also\u00a0weakened\u00a0in November on concerns regarding jobs and household financial outlook.<\/p>\n Elsewhere, spot silver<\/a>\u00a0fell 0.9% to $52.89 per ounce, platinum<\/a>\u00a0gained 1.4% to $1,611.04, and palladium<\/a>\u00a0lost 0.9% to $1,409.87.<\/p>\n","protected":false},"excerpt":{"rendered":"Gold\u00a0was broadly steady on Thursday after hitting a near two-week high in the previous session, as market participants…\n","protected":false},"author":2,"featured_media":155061,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[941,357,54,10913,55842,22814,42,4487,43,55843,55844,55841,40,38,41,39,2488,3309],"class_list":["post-155060","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-breaking-news-markets","tag-business-news","tag-donald-trump","tag-federal-reserve-system","tag-gold-us-dollar-spot","tag-gold-comex-dec25","tag-headlines","tag-jerome-powell","tag-news","tag-precious-metal-markets","tag-precious-metals-industry","tag-silver-us-dollar-spot","tag-top-news","tag-top-stories","tag-topnews","tag-topstories","tag-trump-administration","tag-u-s-10-year-treasury"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/155060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=155060"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/155060\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/155061"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=155060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=155060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=155060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}