GOLD PRICE HOVERS AROUND $2,690 AS FED RATE CUT REINFORCES SAFE-HAVEN APPEAL
GOLD PRICE HOVERS AROUND $2,690 AS FED RATE CUT REINFORCES SAFE-HAVEN APPEAL
Gold Price: XAU/USD trades at $2,692, after bouncing off a daily low of $2,643.
Gold gained over 1% following the 25 bps rate cut by the Federal Reserve, in line with expectations.
The Fed's statement highlighted solid economic expansion, despite a softening labor market and inflation still above the 2% target.
Fed's cautious outlook on inflation and economic growth supports Gold’s safe-haven demand.
