By Rahul Paswan
BENGALURU- Gold prices steadied on Wednesday as markets awaited US jobs data and comments from Federal Reserve Chair Jerome Powell for further insights into the US interest rate cut trajectory.
Spot gold held its ground at $2,644.42 per ounce.
US gold futures eased 0.1 percent to $2,666.40.
Powell is scheduled to speak later in the day in what is expected to be his last public remarks before the Fed’s December meeting.
The primary factor behind gold’s lacklustre movement is that markets anticipated a much shallower US rate cut cycle for 2025, said Kelvin Wong, OANDA’s senior market analyst for Asia Pacific. – Reuters
