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Gold Edges Up as Markets Eye Fed's Decision on Rates


Monday, 28 October 2019 16:51 WIB

GOLDEMAS


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Gold inched up on Monday, after a near 1% jump in the previous session, as investors awaited a U.S. Federal Reserve rate decision later in the week, while progress in U.S.-China trade talks curbed appetite for safe haven assets.

Spot gold rose 0.2% to $1,506.95 per ounce as of 07:00 GMT. U.S. gold futures were up 0.3% at $1,509.60 per ounce.

The Fed is scheduled to meet on Oct. 29 and Oct. 30, with traders seeing a 90.4% chance for a 25 basis point rate cut, according to CME Group's FedWatch tool. The U.S. central bank has already lowered interest rates twice this year.

Source : CNBC


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