GOLD PRICES FELL DESPITE RISING HOPES OVER RATE CUTS
Publish Date : 2019/10/17 - 06:55

GOLD PRICES FELL DESPITE RISING HOPES OVER RATE CUTS


Gold prices fell on Thursday in Asia even after weak retail sales data from the U.S. suggested there might be a higher chance of interest rate cuts from the Federal Reserve.

Gold Futures for delivery on the Comex exchange were down 0.2% to $1,491.05 by 1:15 AM ET (05:15 GMT).

Data showed retail sales in the U.S. fell by 0.3% in September, their biggest drop since last November.

According to Navasangold.com’s Fed Rate Monitor Tool, investors now see an 88.7% chance of a 25 basis point cut at the Fed’s policy meeting at the end of the month.

Source:investing



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