Gold News – 14.Oct.2024
Gold News
Gold Prices: Gold is holding steady around $2,655 per ounce after a 1% gain in the previous session.
Market Focus: Investors are assessing the Federal Reserve’s interest rate outlook after recent inflation data.
US Economic Data: Producer prices in the US were steady in September, while jobless claims surged, raising doubts about the labor market’s resilience to high interest rates.
Inflation: Headline inflation slowed less than expected, but core inflation increased more than anticipated.
Fed Rate Cut Odds: There is an 87% chance of a 25 basis point rate cut by the Fed in November.
Geopolitical Risks: Tensions in the Middle East are supporting gold’s safe-haven appeal.
Upcoming Data: Investors are awaiting retail sales data and speeches from Fed officials for further insights.
Author : Arman Shaban
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