The outlook for Federal Reserve rate cuts remains uncertain, and international gold prices continue to decline.
ChainCatcher news, according to Golden Ten Data, supported by the fading expectations of a U.S. interest rate cut next month, gold prices continued the previous three days of decline. In early trading on Tuesday, spot gold was trading near $4,040 per ounce. Traders and policymakers are awaiting a large amount of data to be released, and several Federal Reserve officials have warned that borrowing costs will not be lowered again. The interest rate swap market currently shows that the probability of a Federal Reserve rate cut in December is less than 40%.
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