Gold prices stabilize near $4,035 as expectations for Fed rate hikes strengthen
- 1Gold prices held near $4,035 after a 2.6% drop in bullion prices following the release of the October US Consumer Price Index.
- 2Lorie Logan, President of the Dallas Fed, said the central bank needs at least an additional 50 basis point rate hike.
- 3Fed Governor Christopher Waller raised the possibility of a 50 basis point hike at the December meeting.
So what's the key point?
Gold prices fell slightly and are now staying near $4,035. Talk of the central bank raising interest rates further is affecting gold prices.
Source Bloomberg +1 · View original ↗
Today's 5 AI picks, all freeNothing hidden: past picks and how they did against the S&P 500.