Daily Market Report
➢ Gold remains under pressure for the fourth consecutive day, hovering near a one-week low but holding above the key $4,000 level.
➢ Reduced expectations of a December Fed rate cut continue to weigh heavily on the non-yielding precious metal.
➢ Traders are scaling back easing bets after Fed officials signaled a more cautious stance on further policy cuts.
➢ Fed Vice Chair Philip Jefferson noted that inflation risks have eased but stressed the need to proceed slowly as policy nears neutral.
➢ Market pricing via the CME FedWatch Tool shows the probability of a December 25 bps cut has dropped below 50%.
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