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News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/gold-prices-rebound-but-remain-set-for-weekly-decline-amid-fed-outlook-and-inflation-concerns/

Gold prices experienced a rebound today but remain on course for a weekly decline following the Federal Reserve’s latest meeting. While the 25-basis point rate cut aligned with market expectations, the Fed’s more cautious stance on interest rates for 2025 put downward pressure on gold prices.

Market participants are now focusing on upcoming U.S. inflation data, particularly the Core Personal Consumption Expenditure (PCE) inflation report, which could influence future policy decisions. While a moderation in inflation is expected, stronger-than-anticipated data could fuel expectations of fewer rate cuts in 2025, further weighing on gold.

Compounding the bearish outlook, India, a key consumer of gold, is forecasted to see a significant decline in imports this December, dampening physical demand. However, rising geopolitical tensions in Europe and the Middle East could increase demand for safe-haven assets, offering some support to gold prices.

News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/gold-prices-rebound-but-remain-set-for-weekly-decline-amid-fed-outlook-and-inflation-concerns/