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Gold Steady Ahead of Rate and Inflation Outlook
Gold prices stabilized in today’s Wednesday morning trading, as investors monitored the possibility of major central banks continuing to raise interest rates to curb inflation. Officials at the Federal Reserve expressed support for a further 25 basis point hike, bringing the rate to a range of 3.75% to 4.00%. The spot gold price reached $4,356.92 per ounce, while December futures increased by 0.4% to $4,394.90. Other precious metals also saw slight gains, with silver rising to $67.37, platinum to $1,837.80, and palladium to $1,311.40, amid expectations of extended periods of higher interest rates.
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