Gold slips from 5-week high, on track for weekly gain ahead of potential US Fed interest rate cut
1 week, 4 days ago

Gold slips from 5-week high, on track for weekly gain ahead of potential US Fed interest rate cut

Live Mint  

Gold Prices Today: The yellow metal declined in global markets on Friday, December 13, after bullion hit a more than five-week high in the previous session and as the US dollar gained, but prices were on track for a weekly gain, driven by expectations of an interest rate cut by the US Federal Reserve next week. Spot gold was last down 0.8 per cent at $2,658.89 per ounce, as the US dollar index hovered near its highest in more than two weeks. Traders now see a 97 per cent chance of a 25 basis point rate cut at the US Fed's December 17-18 meeting. Analysts see a stronger US economy next year, which should likely leave less room for interest rate cuts and thus bring less tailwinds for the yellow metal.

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