Gold News – 04.Dec.2024

Gold News

Gold held above $2,640 per ounce on Wednesday as markets assessed political and monetary developments.

US job openings exceeded expectations, showing resilience in the labor market.

Focus shifts to Friday’s non-farm payrolls report and Fed officials’ speeches for clues on monetary policy.

Odds of a 25bps Fed rate cut stand at 73%, supporting gold by lowering the opportunity cost of holding it.

Gold’s safe-haven demand is boosted by political uncertainties in South Korea and France, as well as geopolitical tensions in the Middle East and Russo-Ukrainian war.

Author : Arman Shaban
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