Expectations of interest rate cuts in the US are pushing gold prices higher

Update prices

Increased gold In spot trading, it rose 0.1 percent to $2,642.42 an ounce (ounce) by 01:03 GMT, after falling about 1 percent yesterday, Monday. U.S. gold futures rose 0.3 percent to $2,665.30.

As for other precious metals, it increased Silver In spot transactions, it rose 0.3 percent to $30.60 an ounce, platinum settled at $946.60, and palladium rose 0.5 percent to $985.86.

He was a member of the Reserve Board Federal (U.S. Federal Reserve) Christopher Waller said yesterday, Monday, that expectations of a decline are continuing Inflation At 2 percent, he is “currently” inclined to support another rate cut later this month.

The comments raised investor expectations for a price cut Interest At the US Central Bank meeting on December 17 and 18, it reached almost 75 percent.

Gold, which does not yield a yield, is thriving in light of low interest rates.

This week’s headline US data includes several reports on jobs and the labor market.

Data showed U.S. manufacturing contracted at a moderate pace in November, with orders rising for the first time in eight months and factory input prices falling sharply.

At the geopolitical level, the US-brokered ceasefire between Israel and the Hezbollah group in Lebanon continued, contributing to the rise in gold prices.

Gold is often seen as a safe investment during periods of economic or geopolitical instability.