MUSCAT : Spot gold settled at $4,186.99 per ounce, showing little movement despite market anticipation ahead of the Federal Reserve’s upcoming rate guidance. Meanwhile, U.S. gold futures for December delivery slipped 0.1% to $4,215.80 per ounce, reflecting cautious sentiment across commodity markets.
The stability in gold came even as the yield on the benchmark 10-year US Treasury note reached its highest level in two and a half months on Monday.
Analysts widely expect the Federal Reserve to deliver an additional interest rate cut this week, though they caution that the bank’s updated forecasts may point to tighter conditions for further easing in 2025. Markets have now priced in an 87% probability of a quarter-point rate cut at the December 9–10 meeting, down slightly from 90% on Monday, according to CME Group’s FedWatch tool.
Spot gold held steady at $4,186.99 per ounce amid cooling expectations for a Federal Reserve rate cut. U.S. gold futures dipped slightly, reflecting cautious market sentiment. Analysts predict a rate cut in December, but future easing could be limited, as indicated by the Fed's updated forecasts.