Gold gains on lower rate hike bets
Gold prices rose today by more than 1%, reaching their highest level in over two months, amid expectations that the US Federal Reserve may postpone interest rate hikes following data showing a slowdown in inflation pressures. The spot gold price increased by 0.6% to $4,433.62 per ounce, while US December futures surged to $4,493 per ounce. This was accompanied by gains in other precious metals, such as silver which went up by approximately 1% to $65.91 per ounce, platinum which increased by 0.3% to $1,762.70, and palladium rising by 0.1% to $1,371.20. These movements reflect a state of market anticipation regarding the future direction of US monetary policy.
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