Gold has lost the $4,000 line as rate-hike bets keep building after this week's hot US inflation data.
• Spot gold traded near $3,983 an ounce, below $4,000, extending its losses for a third straight session
• Futures pricing shows about an 87% chance of a 25 bps Fed hike at the Dec. 8-9 meeting and about 13% for 50 bps
• US October CPI rose 0.4% versus 0.3% expected, with core CPI up 0.3%
Why it matters: Higher expected rates raise the cost of holding assets that pay no yield, the same pressure crypto traders are watching on bitcoin.
Source: Kitco, FXStreet, ET Now
Not financial advice.
💬 Is a Fed hike already priced into gold and crypto, or is there more pressure ahead?
#Gold #Fed #CPI
• Spot gold traded near $3,983 an ounce, below $4,000, extending its losses for a third straight session
• Futures pricing shows about an 87% chance of a 25 bps Fed hike at the Dec. 8-9 meeting and about 13% for 50 bps
• US October CPI rose 0.4% versus 0.3% expected, with core CPI up 0.3%
Why it matters: Higher expected rates raise the cost of holding assets that pay no yield, the same pressure crypto traders are watching on bitcoin.
Source: Kitco, FXStreet, ET Now
Not financial advice.
💬 Is a Fed hike already priced into gold and crypto, or is there more pressure ahead?
#Gold #Fed #CPI