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Gold prices are currently in consolidation, influenced by geopolitical uncertainties, particularly regarding Russia"s nuclear doctrine and ongoing Middle East conflicts. Eurozone inflation rose to 2.0% in October, with potential monetary policy changes from the ECB and Fed expected in December. Investors are closely monitoring upcoming speeches from Fed representatives, which may signal future interest rate adjustments.
UBS maintains that the Federal Reserve is still on track for rate cuts despite recent higher-than-expected inflation data, which has led to a reevaluation of aggressive easing bets. While core CPI rose to 3.3% year-over-year, analysts emphasize that overall inflation trends are downward, with headline CPI at its lowest since 2021. Upcoming PCE data will be crucial in confirming or challenging the recent CPI surprise.
Bitcoin remains above $62,000, buoyed by a recent interest rate cut in the US, although investor euphoria is starting to fade. The upcoming US presidential election, featuring Kamala Harris and Donald Trump, may influence crypto regulations, while key Federal Reserve speeches next week could provide insights into future monetary policy.
Goolsbee
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
gold price consolidation amid geopolitical tensions and inflation concerns
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12:10 19.11.2024
ubs maintains outlook for federal reserve rate cuts despite inflation concerns
00:30 14.10.2024
Bitcoin remains above 62000 as investors eye US monetary policy shifts
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