GOLD need a more obvious sign of sharp macro decline

١٣ ديسمبر ٢٠٢٣

World gold prices on Tuesday hovered around the 1,990 USD/ounce mark after 2 sessions of decline. World gold prices became more cautious due to information that US consumer prices unexpectedly increased in November, as traders are waiting for important central bank policy meetings to find clues about the policy. currency book.

The consumer price index (CPI) increased 3.1% year-on-year in November, in line with economists' expectations. November CPI increased 0.1% compared to the previous month. At the same time, the annual base interest rate remains at 4%.

All eyes are on the Fed's two-day monetary policy meeting, which will end on Wednesday with a decision on interest rates and the release of summary economic forecasts. The Fed is expected to leave interest rates unchanged this week, with about an 80% chance of a rate cut in May, according to the CME FedWatch Tool.