Reported 3 days ago
Gold prices fell to a one-month low following the Federal Reserve's latest interest rate cut and a forecast indicating fewer cuts for 2025. Despite lowering the benchmark rate for the third consecutive time, the Fed's cautious outlook on future monetary easing led to a surge in Treasury yields and the dollar, putting downward pressure on gold. With speculators likely taking profits amidst the Fed's more hawkish stance, spot gold dropped 1.5% to $2,606.03 an ounce.
Source: YAHOO