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Gold prices above $4,100 as investors eye Fed rate cuts - YAHOO FINANCE
Gold (GC=F)
Gold prices hovered above the $4,100 mark on Wednesday morning as investors awaited a vote in the US House of Representatives on a deal to reopen the federal government, a move that could restore the flow of economic data and provide clearer guidance on the Federal Reserve’s next steps with interest rates.
Gold futures gained 0.5% to $4,134.30 per ounce, while spot gold edged down 0.1% to $4,132.08 an ounce at the time of writing.
“Everyone is awaiting more clarity on the government shutdown and when the data is coming out of the US again,” said Giovanni Staunovo, an analyst at UBS. “It’s probably some stability before prices keep going up ... we are still in an uptrend when it comes to the gold prices. Nothing from the structural side has completely changed."
