ANZ on gold, a note highlighting:
- gold prices higher on the prospect of a December Fed rate cut after the US personal consumption expenditure data earlier in the week came in line with expectations
- pricing up around a 70% chance for a 25bps rate cut in December, from just over 50% a week ago
- geopolitical tensions in Europe after Russia’s missile attack on Ukraine is also a tailwind for safe-haven asset
This article was written by Eamonn Sheridan at www.forexlive.com. Source