18 November 2024
Gold prices bounced back on Monday after six consecutive sessions of losses, driven by a pause in the U.S. dollar’s rally. Investors are now awaiting comments from Federal Reserve officials for insights into the future interest rate trajectory. The precious metal’s price rose 1.3% to $2,593.32 per ounce, moving away from a two-month low reached last Thursday. This rebound comes after gold experienced its largest weekly decline in over three years due to expectations of less aggressive interest rate cuts by the Fed.