Gold slips as hopes for bigger US rate cut dim

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Home Business Gold slips as hopes for bigger US rate cut dim 03-10-2024 01:02 PM Ammon News - Gold prices declined on Thursday as recent economic data tempered expectations of an aggressive U.S. rate cut in November, while investors turned their attention to the upcoming payrolls data. Spot gold was down 0.5% to $2,644.55 per ounce by 0852 GMT, after climbing a record high of $2,685.42 last week. U.S. gold futures shed 0.2% to $2,664.70. Data on Wednesday showed that U.S. private payrolls increased more than expected in September, evidence that labor market conditions were not deteriorating. Spot silver fell 1.2% to $31.49, platinum dropped 1.3% to $989.10 and palladium slipped 2% to $995.00. Reuters

Home Business

Gold slips as hopes for bigger US rate cut dim

03-10-2024 01:02 PM

Ammon News - Gold prices declined on Thursday as recent economic data tempered expectations of an aggressive U.S. rate cut in November, while investors turned their attention to the upcoming payrolls data.

Spot gold was down 0.5% to $2,644.55 per ounce by 0852 GMT, after climbing a record high of $2,685.42 last week.
U.S. gold futures shed 0.2% to $2,664.70.

Data on Wednesday showed that U.S. private payrolls increased more than expected in September, evidence that labor market conditions were not deteriorating.

Spot silver fell 1.2% to $31.49, platinum dropped 1.3% to $989.10 and palladium slipped 2% to $995.00.

Reuters

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