Gold News – 20.Nov.2024
Gold News
Gold Rally: Gold rose to $2,640 per ounce, marking its third consecutive session of gains due to increased demand for safe-haven assets.
Geopolitical Tensions: Renewed tensions between Russia and Ukraine, including Ukraine’s missile strike on a Russian border region and Putin’s expanded nuclear doctrine, boosted gold’s appeal.
Recovery: Gold has recovered 38% of November’s losses, rebounding from earlier pressure caused by a strong US dollar and reduced Fed rate cut expectations.
Federal Reserve: While most investors still expect a 25bps rate cut in December, the probability has dropped to 58% from 62%.
Market Focus: Investors are now awaiting upcoming Fed official remarks for further clarity on monetary policy.
Author : Arman Shaban
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