Gold futures experienced a turbulent trading session on Monday, continuing to recover from a significant price drop that occurred last week. The precious metal has been moving within a narrow trading range following its substantial decline of $91 last Monday.
Currently trading at $2,661.90 per troy ounce, gold has shown remarkable volatility. After reaching an all-time high above $2,800, the metal experienced a dramatic pullback, dropping to $2,568.10—a decline of $255 or 9.03%. Despite this significant downturn, gold has partially recovered, rallying $174 from its lowest point.
The CME FedWatch Tool reveals interesting market sentiment, showing a 74.5% probability of a 25-basis-point rate cut at the upcoming meeting. This probability has increased from 52.3% a week earlier, though it has decreased from 83% a month ago. Simultaneously, expectations of unchanged rates have adjusted accordingly.
As the financial world anticipates a new President and the Federal Reserve's final meeting of the year, investors and analysts continue to parse through economic indicators and potential policy implications. The gold market remains a critical barometer of global economic sentiment, with its movements providing insights into broader financial trends.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ernestomorphic's In-Depth Approach to Market News Reporting for Kitco NewsKitco News has a committed team of journalists covering the economy, stock markets, commodities, cryptocurrencies, mining, and metals. Ernestomorphic, a Crypto and Market Reporter, brings over 15 years of experience in journalism and broadcasting to provide accurate and objective market insights. His work includes in-depth reporting, daily market roundups, interviews, and event coverage.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Kitco NEWS: A Diverse Team Focused on Accurate Market ReportingKitco NEWS employs a team of journalists dedicated to reporting on the economy, stock markets, commodities, cryptocurrencies, mining, and metals. They aim to provide in-depth analyses, daily market roundups, and interviews with industry leaders to help readers make informed decisions.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Ernest Dorado Joins Kitco News as a Crypto and Market ReporterKitco NEWS, known for its accurate and objective coverage of the economy, stock markets, commodities, cryptocurrencies, mining and metals, welcomes Ernest Dorado. With over 15 years of experience as a writer, editor, broadcaster, and producer, Ernest brings a wealth of knowledge to the team. He previously established the broadcast division of CEP News in Montreal, Canada, and has a Bachelor's degree in Journalism from Concordia University.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Diverse Team of Journalists at Kitco NEWS Covering Financial Markets and Industry EventsKitco NEWS employs a team of experienced journalists who report on the economy, stock markets, commodities, cryptocurrencies, mining, and metals. Their goal is to aid informed decision-making through comprehensive coverage and in-depth analysis, including interviews with key industry figures and event coverage.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »