Gold Climbs: Gold climbs on rate cut expectations
Gold ticked higher as the final week of the year got under way, with traders looking ahead to interest rate cuts from the Fed in 2024 and a weaker US currency. Bullion is trading near a record high, heading for its first annual increase in three years, as data showing US price pressures easing reinforces expectations for multiple rate cuts in 2024.
A report last week showed the Fed’s preferred gauge of underlying inflation barely rose last month.
A report last week showed the Fed’s preferred gauge of underlying inflation barely rose last month.