Domestic gold prices
Domestic gold price trends
Trends in world gold prices
Global gold prices halted their upward trend amid a strengthening US dollar. As of 7:15 PM on November 30th, the US Dollar Index, which measures the dollar's fluctuations against six major currencies, stood at 103.255 points (up 0.56%).
Investors are awaiting the US Personal Consumption Expenditures (PCE) index to see whether the Federal Reserve (FED) will lower interest rates sooner than expected.
Market analyst Yeap Jun Rong of IG believes that gold prices will not change much today, ahead of the release of the PCE data later today.
This expert argues that the positive US GDP figures for the third quarter cannot dispel market speculation about the possibility of a Fed interest rate cut, as investors are still following clues from recent comments by Fed officials.
Meanwhile, Jeffrey Roach, an expert at LPL Financial, believes that inflation is trending downward, consumers are still spending but at a slower pace, and the Fed may end its interest rate hike cycle without significantly impacting the economy . Traders are currently predicting that the Fed will lower interest rates in the first half of next year.
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