Gold ticked higher as the final week of the year got under way, with traders looking ahead to interest rate cuts from the Fed in 2024 and a weaker US currency. Bullion is trading near a record high, heading for its first annual increase in three years, as data showing US price pressures easing reinforces expectations for multiple rate cuts in 2024.
A report last week showed the Fed’s preferred gauge of underlying inflation barely rose last month.
A report last week showed the Fed’s preferred gauge of underlying inflation barely rose last month.