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Gold Steadies as Investors Await U.S. Rate Outlook


Monday, 17 December 2018 17:57 WIB

GOLDEMASEmas berjangkaSpot Gold


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Gold held above the lowest in more than a week as investors count down to the Federal Reserve's final meeting of 2018, with policy makers expected to raise borrowing costs and map out priorities for next year.

Spot gold little changed at $1,239.87/oz. Metal lost 0.8% last week.

Bloomberg Dollar Spot Index weakened 0.2%

While higher rates tend to curb bullion’s appeal, many investors are betting on a slower pace of tightening next year. Money managers have turned net bullish for the first time in five months and holdings in exchange-traded funds are at the highest since July.

After raising rates three times in 2018, Fed policy makers open their final meeting of the year on Tuesday amid expectations for a fourth hike. After the decision, Chairman Jerome Powell addresses the media. 

Investors are also weighing the possibility of a partial U.S. government shutdown.

Source: Bloomberg


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