Gold rises for a third session after Fed rate cut
Istanbul, 11 December (Hibya) – Following the expected interest rate cut by the U.S. Federal Reserve (Fed), gold prices rose for the third consecutive session, approaching October's record levels at 4,230 dollars per ounce on Thursday.
Fed Chair Jerome Powell stated after the expected rate cut that the Fed is considering slowing the pace of rate changes, making small cuts, or even larger reductions, but emphasized that there are no plans to raise rates.
Thus, the Federal Reserve maintained its projection of a single interest rate cut in 2026; however, a subtle shift in Powell’s wording indicated increased uncertainty about the timing and scale of future cuts.
Policymakers lowered inflation forecasts for 2025 and 2026 while raising expectations for economic growth. Meanwhile, geopolitical risks — such as the U.S. interception of a sanctioned tanker near Venezuela and ongoing uncertainty surrounding the Russia-Ukraine peace process — also contributed to the metal’s safe-haven appeal.
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