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Gold prices rising again after 2-week low
As investors wait keenly to hear from the US Federal Reserve on interest rate cuts, gold prices rose to their highest on Friday 22 December since the beginning of December, with sentiment pushing bond yields and the dollar to a positive standpoint to enter 2024. The markets are eager to see the November core personal consumption expenditure (PCE) price index report, due early this afternoon, which will disclose the Fed’s take on underlying inflation. Having said that, Fed officials deflected the notion of quickfire rate cuts in Q1 2024, but this does not seem to have deterred the market outlook. Kelvin Wong, a ... (full story)