Gold climbs to two-week high on rising Fed rate cut bets [Yahoo! Finance]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance
Gold prices climbed to a two-week high on Monday, with investors betting that signs of a weakening US economy could prompt the Federal Reserve to cut rates next month, overshadowing progress towards ending the government shutdown in Washington. COMEX - Delayed Quote • USD Gold Dec 25 (GC=F) Follow View Quote Details As of 4:47:39 AM EST. Market Open. Advanced Chart Gold futures rose 1.8% to $4,084.20 per ounce, while spot gold rose 2% to $4,080.07 an ounce, at the time of writing. “Gold is catching a solid bid from traders to kick off the week, with the precious metal rising on anticipation that a rate cut could still arrive next month, even though the Fed has been downplaying the chances of it occurring,” said Tim Waterer, chief market analyst at KCM Trade. Recent data has revealed the fragility of the US economy. Job losses in October were concentrated in the government and retail sectors, while a surge in announced layoffs reflected cost-cutting and the growi
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