Gold Prices Rise: Strong Start to the New Week

Gold Prices Are Rising

At the beginning of the new week, gold prices have managed to attract the attention of investors. The expectations that the U.S. Federal Reserve (Fed) may cut interest rates in December has been a significant factor in the appreciation of gold. The growing concerns about a global economic slowdown have directed investors to gold as a safe haven.

Spot Gold and Futures

As of 07:40 UTC, spot gold showed an increase of over %1, reaching $4,053. Simultaneously, December delivery U.S. gold futures rose by %1.3, reaching $4,062.40 per ounce.

Fed Expectations and Market Reaction

Market volatility continues, influenced by the fact that the likelihood of an interest rate cut in December is priced in at around %67, according to data from the CME FedWatch Tool. Experts note that this situation has created an increasing sense of confidence among gold investors, encouraging them to make purchases.

Global Economic Concerns

In addition, analysts indicate that the weakness in global growth data plays a significant role in investors' decision-making processes, highlighting that these factors have been critical in the increase of gold purchases. Investors prefer the safe haven that precious metals provide during periods of uncertainty.

In Conclusion

In summary, the strong start of gold prices in the new week was made possible by both the potential interest rate cuts by the Fed and the weak outlook in global economic data. For investors, gold continues to maintain its appeal during this period of uncertainty.