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Gold prices silences as markets await key Fed decision on rate cuts

Gold prices (Symbol: XAUUSD) held near $2,500 per ounce as markets turned to speculate on the Fed’s upcoming interest rate decision, after the U.S. labour market presented a complex picture for investors. While fewer jobs were added, the unemployment rate stood in line with expectations. Wage growth, however, picked up higher than the forecasted. The dual nature of this data — weaker overall job growth but stronger wages — has left markets uncertain about the scale of the Federal Reserve’s impending interest rate cut. John Williams, the President of the Federal Reserve Bank of New York, signalled that it is now an appropriate time to reduce rates, emphasising the Fed’s progress on inflation control and the cooling job market. Read more to find out how will gold trend.

how will gold trend

Disclaimer:

Given the current uncertainty, volatility in the gold market may rise, presenting opportunities for gold trading. While the outlook remains positive, it is essential to consider potential risks, such as economic slowdowns, regulatory challenges, or geopolitical tensions that could impact market performance. Traders should maintain risk management in making every single trade decision.

Publication date:

2024-09-16 16:02:49 (GMT)

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