Gold News – 08.Nov.2024

Gold News

Gold held near $2,700 after the Fed announced a second quarter-point rate cut this year, lowering the federal funds range to 4.50%-4.75%.

The Fed cited signs of labor market softening and noted that inflation is nearing its 2% target but remains elevated.

Fed Chair Jerome Powell avoided clear guidance on future rate moves, emphasizing flexibility based on economic data.

Powell stated that Tuesday’s presidential election outcomes are unlikely to impact near-term monetary policy decisions.

Author : Arman Shaban
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