The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
In a remarkable display of market dynamics, gold prices have soared to unprecedented levels, setting a new record high and closing price. This surge is attributed to a perfect storm of economic and geopolitical factors, primarily driven by the Federal Reserve's recent monetary policy shift and escalating tensions in the Middle East.
Market participants are closely monitoring the Fed's trajectory, with the CME's FedWatch tool providing insights into future rate expectations. For the November Open Market Committee meeting, there's a near-even split in probability between another 50-basis point cut and a more modest 25-basis point reduction . Looking ahead to December, the tool suggests a 26.3% chance of rates settling between 4.25% and 4.5%, a 50% likelihood of rates dropping to 4% - 4.25%, and a 23.
The confluence of these economic and geopolitical factors has propelled gold to new heights. In just two weeks, gold futures have gained an impressive $120, with over half of that increase occurring in the last two days alone. As of 5:15 EDT, the most active contract month, December gold, was trading at $2,647.10, representing a substantial daily gain of $40.90.
As the Federal Reserve continues its rate normalization process and global events unfold, market observers will be keenly watching gold's trajectory. The interplay between monetary policy, geopolitical developments, and investor sentiment promises to keep the gold market dynamic and potentially volatile in the coming months.
Gold Silver Platinum Palladium PGM Platinum Group Metals Metals Precious Metals Mining News Crypto News Bitcoin News Ethereum News Mining News Interviews Economic Reports Forecasts Central Banks US Dollar Charts Tech Metals Rare Earth Metals Currency Global Economy International Policy Politics Bank Forecasts Market Nugget Mining Minutes Roundups
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
S&P 500 surges to record high close on euphoria over Fed rate cutThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Gold Reaches New Record High Following Powell's Historic SpeechThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Gold steady near record high as US inflation data loomsThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Dollar drops, gold near record high as bets for big Fed cut ramp upInvestors on Friday ratcheted up bets for a super-sized Federal Reserve interest rate cut next week, after media reports suggested the decision would be a...
Read more »
Gold price at record high on bullish fundamentals, technicalsThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Gold price pokes to another record high as FOMC on deckThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »