Gold Prices Rise in Early Asian Trading on Fed Rate Cut Expectations
Deep News
Dec 08
Gold prices advanced during early Asian trading hours. Spot gold climbed 0.2% to $4,204.41 per ounce. Analysts from ANZ Research noted in a report that a key U.S. inflation metric met market expectations, supporting the case for the Federal Reserve to implement rate cuts later this week. The Personal Consumption Expenditures (PCE) price index, widely regarded as the Fed's preferred inflation gauge, remained below 3% year-on-year in September while showing modest month-over-month price increases.
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