Gold futures rebounded above $1,770 today. The positive factor from the expectation that the Federal Reserve (Fed) will raise interest rates by only 0.50% during its December monetary policy meeting. after revealing lower-than-expected inflation numbers
At 23:53 Thai time, the COMEX (Commodity Exchange) gold contract is delivered in December. plus $4.10 or 0.23% at $1,773.50/ounce
CME Group’s FedWatch tool shows investors weigh 80.6% that the Fed will raise interest rates by 0.50% at its Dec. 13-14 meeting and 19.4% that the Fed will hike rates by 0.75%.
However, the gold price has come under pressure from the strong dollar. which will reduce the attractiveness of gold by making gold contracts more expensive for holders of other currencies.
