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Gold price dips as US Fed interest rate cut expectations fall - YAHOO FINANCE
Gold (GC=F)
Gold prices reversed a two-day gain as investors scaled back expectations for an interest rate cut from the US Federal Reserve next month.
Bullion was down 0.5% on Thursday, trading around $4,062 an ounce at the time of writing, after rising almost 1% in the previous two sessions.
It came after minutes of the October Fed meeting revealed that officials said it would likely be appropriate to keep rates steady for the rest of 2025. Swap contracts linked to the Fed policy rate now imply a 36% chance of a cut. Before Wednesday, the probability was about 50%.
Gold (GC=F) has rallied strongly this year, gaining more than 50% and hitting a record in October, before retracing some of its gains. The upward momentum has been supported by two earlier rate cuts from the Fed, as well as elevated central-bank buying, and inflows into bullion-backed exchange-traded funds (ETFs).
The combined value of global gold (GC=F) currently reserves stands around €4.22 trillion, an increase of 44.66% since December 2024, when gold traded at €2,508.39 per ounce.
Elsewhere, silver (SI=F) dropped toward $51 an ounce, while platinum (PL=F) and palladium (PA=F) were flat.
