Reported 8 days ago
Gold prices are poised for their largest weekly decline since June 2021, trading near a two-month low, as traders lower expectations for a Federal Reserve interest rate cut in December following comments from Fed Chair Jerome Powell about the strong U.S. economy. Over the past week, gold has fallen over 4%, following a nearly 8% drop since reaching a record high on October 31, largely influenced by economic expectations tied to Donald Trump's election victory. Despite the recent downturn, gold remains up 24% for the year, supported by central bank purchases and geopolitical tensions.
Source: YAHOO