The U.S. rate cut put pressure on the dollar and bond yields, boosting the investment appeal of non-yielding gold.

Economist Samuel Tombs from consulting firm Pantheon Macroeconomics predicted that the Fed will have to make a temporary assessment of the new fiscal policy outlook next month. At that time, the Fed will release its quarterly economic projections, and Tombs expects the Fed to cut rates by another 25 basis points in December, with an additional 100 basis points of cuts in 2025

Gold prices rose as the Federal Reserve cut rates by 25 basis points as widely expected.

Nov 08 2024