Gold Prices Surge Amid Economic Uncertainty, December Rate Cut Hopes Fade

Gold prices surged in Asian trading due to economic uncertainty, but gains were limited as hopes for a December rate cut waned. Spot gold reached $4,187.43 an ounce, marking its first weekly gain in four weeks. The government shutdowns end and upcoming economic data have markets on edge, potentially impacting the Federal Reserves December meeting. Investors have reduced bets on a rate cut, with the probability now at 45.4%.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.