Gold rate climbs after 3% drop: Is a rally likely as Fed Dec rate hike bets surge?
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Spot gold rose 0.3% to $4,044.56 per ounce on November 11, recovering from Tuesday’s low.
- ✓US gold futures also climbed 0.6% to $4,052.50.
- ✓Matt Simpson said investors were taking profits on bearish positions.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Financial Express
- Reading Speed
- 1 Minute(s)
- Market Focus
- India Economy
Gold rate today in international market
In the international market, as of 0451 GMT, spot gold had risen 0.3% to $4,044.56 per ounce, recovering from Tuesday’s low of $4,017.21. Meanwhile, US gold futures for December delivery advanced 0.6% to $4,052.50 per ounce.
Matt Simpson, senior market analyst at StoneX, described the latest movement as a technical recovery following Tuesday’s substantial losses, reported Reuters. He noted that investors were taking profits on bearish positions while awaiting fresh market developments.
According to Simpson, hotter inflation figures and increasingly hawkish comments from Federal Reserve officials have strengthened expectations of further monetary tightening.
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