(Finance) – The price of gold continues to recover on international marketsalso in response to dollar weaknesswhich still seems to discount an expansionary monetary policy from the Fed.
The most recent declarations of President Powell and the possibility of one break in the path of downward adjustment of rates they do not seem to have fully convinced investors, which they still bet on the possibility of a rate cut by 25 points in December. THE Fedwatch futures at the CME they report a 55.7% chance of a 25 basis point cut in December, against a 44.3% probability that rates will remain unchanged.
The gold also helps support gold demand for safe haven assetsfueled by growing tensions between Russia and Ukraine and the war in the Middle East.
Precious metal is like that rebounded from the lows of the last two months, reached last week, after Trump’s victory in the elections and in response to investors’ greater appetite for risk, which then deflated. From a low of the last two months of 2,561 dollars an ounce, reached last week, the price rebounded to 2,620 USD/oz (+0.34%), but it still is far from the peak of 2,780 dollarsI reached it at the end of October.
Among other precious metals, the palladium stops just over a thousand dollars, while the platinum it retraces slightly to 967 dollars. Fractionally rising silver which rises to 31.275 dollars (+0.3%).
Among the industrial metals, i copper futures on the London Metal Exchange they advance by 0.3% y 9,124.50 dollars per tona, after losing ground recently on signs of slowing growth in China. Now we look at the decisions of the Chinese central bank this week, even if we assume that nothing has happened on rates.