Investors predict the Fed will lower interest rates

9 בדצמ׳

According to a report by the World Gold Council (WGC), the People's Bank of China (PBOC) bought gold for reserves in November after a 6-month pause. China's gold reserves rose to 72.96 million ounces of pure gold at the end of November, up from 72.8 million ounces the previous month. In November, gold prices dropped sharply due to the sell-off after the US election results.

WGC said that central banks' demand for gold continues to be positive. The main motivation for buying gold is to diversify foreign exchange reserves and reduce dependence on the USD.

In the US, the market is looking towards an interest rate adjustment by the Federal Reserve (Fed). According to MT Newswires, strong labor market data reduces immediate pressure on the Fed to accelerate interest rate cuts.

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