Gold Eases Ahead of Fed Meeting
Gold prices slide ahead of the Federal Reserve's policy meeting, with traders cautiously waiting for cues on the U.S. central bank's outlook for 2025. Futures trade 0.4% lower at $2,652.75 a troy ounce.
A widely anticipated 25-basis-point rate cut is already fully priced into markets, according to analysts, but further cuts are less certain. Meanwhile, U.S. PMI data showed the services sector rose at a faster-than-expected pace.
"The resilience of the U.S. economy supports our view that the Fed's 2025 rate cutting cycle is likely to be shallow," ANZ Research analysts say. "We expect a signal that future moves will be gradual."
Source: Bloomberg
