Eco
Gold prices stabilized on Thursday near $3970 per ounce, influenced by ongoing inflationary pressures and Federal Reserve officials' remarks that have strengthened expectations for a US interest rate hike in December. Traders are pricing in a potential increase of 25 basis points, with some anticipating a larger hike of up to 50 basis points, following Federal Reserve officials describing recent inflation data as concerning. Spot gold prices fell by 0.4% to $3971.51 per ounce, while silver declined by 0.9% to $51.26, amid pressures from rising bond yields and a strong US dollar.
