{"id":106895,"date":"2024-10-09T09:49:18","date_gmt":"2024-10-09T05:49:18","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=106895"},"modified":"2024-10-09T09:49:20","modified_gmt":"2024-10-09T05:49:20","slug":"gold-prices-fall-as-traders-bet-on-slower-fed-rate-cuts","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-prices-fall-as-traders-bet-on-slower-fed-rate-cuts\/10\/09\/market-updates\/","title":{"rendered":"Gold Prices Fall as Traders Bet on Slower Fed Rate Cuts"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Gold prices extended their decline in Asian trading on Wednesday, as growing expectations of slower rate cuts by the Federal Reserve weighed on the market. A stronger U.S. dollar, supported by rising Treasury yields, added pressure on metals.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Spot gold<\/strong> slipped <strong>0.2%<\/strong> to <strong>$2,615.90<\/strong> per ounce, while <strong>December gold futures<\/strong> inched down to <strong>$2,634.20<\/strong> per ounce by <strong>00:57 ET (04:57 GMT)<\/strong>. Earlier this month, spot gold had hit a record high of <strong>$2,685.96<\/strong> per ounce.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Fed and Inflation Data in Focus<\/strong><\/h3>\n\n\n\n<p>The decline in gold comes amid uncertainty over U.S. interest rates. Traders are increasingly betting that the Fed will opt for a smaller <strong>25 basis point<\/strong> rate cut in November, following a <strong>50 basis point<\/strong> cut in September that marked the beginning of an easing cycle.<\/p>\n\n\n\n<p>Strong U.S. payroll data for September has raised questions about the Fed&#8217;s need to continue aggressively cutting rates, boosting the dollar and reducing gold\u2019s appeal. The release of the <strong>Fed\u2019s September meeting minutes<\/strong> later on Wednesday and <strong>consumer price index (CPI) inflation data<\/strong> on Thursday are expected to provide more clarity on future rate decisions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Other Precious Metals Mixed<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Platinum futures<\/strong> dipped <strong>0.1%<\/strong> to <strong>$964.90<\/strong> per ounce.<\/li><li><strong>Silver futures<\/strong> rose <strong>0.8%<\/strong> to <strong>$30.865<\/strong> per ounce, recovering from recent losses.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices extended their decline in Asian trading on Wednesday, as growing expectations of slower rate cuts by the Federal Reserve weighed on the market. A stronger U.S. dollar, supported by rising Treasury yields, added pressure on metals. Spot gold slipped 0.2% to $2,615.90 per ounce, while December gold futures inched down to $2,634.20 per &hellip;<\/p>\n","protected":false},"author":9,"featured_media":104608,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[7603,7957],"class_list":["post-106895","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-gold-prices","tag-nfp-data"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/106895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=106895"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/106895\/revisions"}],"predecessor-version":[{"id":106896,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/106895\/revisions\/106896"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/104608"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=106895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=106895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=106895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}