Gold News – 11.Nov.2024

Gold News

Gold prices dropped to around $2,660 per ounce, marking a second consecutive session of declines.

The decline is driven by market focus on upcoming U.S. inflation data and Federal Reserve speeches for clues on interest rate decisions.

Last week, the Federal Reserve cut interest rates by 25 basis points but signaled caution on future rate reductions.

Markets currently estimate a 65% likelihood of another 25 basis point rate cut in December.

Important U.S. economic data, including the producer price index, weekly jobless claims, and retail sales, are expected this week.

Author : Arman Shaban
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