Gold prices fell for the third day in a row, declining by ₹1,470 per 10 grams in early trade on Wednesday, November 13, due to a stronger US dollar in global markets. The American currency traded near three-month high levels ahead of the key inflation data which could give cues about possible rate cuts by the US Federal Reserve.
Fed
Federal Reserve ready to cut interest rates by 25 basis points
The US Federal Reserve (Fed) will announce monetary policy decisions following the November policy meeting on Thursday, just barely two days after Donald Trump was elected as the 47th president of the United States. Market participants widely anticipate that the US central bank will lower the policy rate by 25 basis points (bps) to the range of 4.5%-4.75%.
I See a 25 Basis Point Rate Cut; Neal Bhai
After the unexpected 50 basis point rate cut in September, market participants have turned their attention to the performance of the US economy to gauge the likelihood of further cuts. This focus aligns with the Federal Reserve’s shift toward monitoring the labor market, although inflation, especially excluding food and energy costs, is proving more stubborn than before.
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Gold prices fell to a one-week low in line with US Inflation data
Safe-haven gold prices may get some support from the slight decline in the US dollar (USD) along with the risk of further escalation of geopolitical tensions in the Middle East. Traders may also avoid placing aggressive bets ahead of the release of the FOMC meeting minutes on Wednesday. In addition, the US Consumer Price Index (CPI) and the US Producer Price Index (PPI) to be released on Thursday and Friday should provide fresh momentum to Yellow Metal.
Fed Meeting press conference quotes
Fed Meeting press conference: Federal Reserve Chairman Jerome Powell explains the decision to cut the policy rate, federal funds rate, by 50 basis points to the range of 4.75%-5% after the September meeting and responds to questions in the post-meeting press conference.
फेड ने ब्याज दर 50 आधार अंक घटाकर 4.75%-5% कर दी
अमेरिकी फेडरल रिजर्व (Fed) ने बुधवार को घोषणा की कि उसने सितंबर की नीति बैठक के बाद नीति दर, संघीय निधि दर को 50 आधार अंकों से घटाकर 4.75%-5% की सीमा तक कर दिया है। हालांकि बाजार का पूर्वानुमान 25 बीपीएस दर कटौती का था, लेकिन 50 बीपीएस कटौती की उम्मीदें बढ़ रही थीं।
Fed to Begin Cutting Interest Rates, Signal Next Steps
The Federal Reserve (Fed) is widely expected to lower interest rates this week after holding borrowing costs at a two-decade high for more than a year.
Sensex, Nifty: Will stock market rally post US Fed rate cut decision today?
Benchmark indices Sensex and Nifty were range-bound in Wednesday’s trade, much in line with Asian peers, as investors globally eye the outcome of the two-day US Federal Reserve’s policy review later today. Analysts are largely betting on a 25 basis points (bps) rate cut, though they do not rule out a bigger 50-bp move. What stock investors would cheer, analysts said, is a small cut with a dovish Fed commentary on future rate cuts.
Gold Jumps to record high on Fed rate cut outlook
Gold prices charged to a record high on Monday as a weaker dollar and the prospects of aggressive U.S. monetary policy easing boosted non-yielding bullion’s appeal.
The Fed is ready to free up the US economy with a soft landing
The Federal Reserve will begin a crucial pivot this week, lowering interest rates for the first time in more than four years as it pursues a rare soft landing for the US economy.