Impact of Fed Rate Cuts on Gold Prices
Gold prices are currently experiencing significant downward movement following the Fed's decision to cut rates. This has influenced market dynamics, leading to a 0.9% decrease in spot gold, down to $2,622.44 an ounce as of 2:40 p.m. ET. Meanwhile, US gold futures have also tumbled by more than 1.0%, now valued at $2,633.80 an ounce.
Investors keenly watch these changes as they suggest less easing from the Fed in the near future, impacting overall market sentiment.
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