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Gold’s Price Decline Amid Shifting Rate Cut Expectations
Gold’s Price Decline Amid Shifting Rate Cut Expectations
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BTCCSquare news:
Gold prices extended losses as market expectations for a December Federal Reserve rate cut diminished sharply. Futures markets now price just a 46% probability of a 25-basis-point reduction, down from 67% last week and over 90% in late October.
The precious metal traded at $4,050/oz, retreating 7.5% from its October 17 record high of $4,379.13. This reverses much of gold's 60% annual rally fueled by central bank accumulation and retail safe-haven demand during geopolitical tensions.
Lower rates typically support Gold by reducing the opportunity cost of holding non-yielding assets. The SPDR Gold Shares ETF (GLD) now faces headwinds as monetary policy expectations recalibrate.
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