• TRM (USD/COP)COP 3,235.59 +1.65% +COP 52.60Colombia's official exchange rate (Financial Superintendence), valid Nov 4 to Nov 4
  • EuroCOP 3,617.08 +1.72% +COP 61.02Reference: TRM crossed with the European Central Bank rate of Nov 3; not the market quote
  • Mexican pesoCOP 173.98 +3.35% +COP 5.64Reference: TRM crossed with the European Central Bank rate of Nov 3; not the market quote

Gold falls below $4,000 ahead of the Federal Reserve's rate decision

FinanceInternationalRevista ADVFN35 s readAI summary
Image: Revista ADVFN

Gold prices retreated on Tuesday and briefly traded below $4,000 an ounce as investors awaited the Federal Reserve's policy announcement on Wednesday. At 05:58 ET, spot gold was down 0.5% at $3,998.23 an ounce and US futures were 0.6% lower at $4,013.17 an ounce. The market prices roughly a 10% chance of a rate hike this week, after September's increase, amid elevated energy prices and diplomatic efforts related to Iran.

In 35 seconds

  • Spot gold fell 0.5% to $3,998.23 an ounce and futures dropped 0.6% to $4,013.17 an ounce.
  • The market prices an approximately 10% probability of a rate hike at this week's Fed meeting.
  • The Fed raised rates in September for the first time since 2023, and energy prices keep inflation expectations in play.
Read the full story at Revista ADVFN

IASummary generated by artificial intelligence from a story by Revista ADVFN. It may contain errors: the original source prevails.

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