ANZ on gold, a note highlighting:

  • gold prices higher on the prospect of a December Fed rate cut after the US personal consumption expenditure data earlier in the week came in line with expectations
  • pricing up around a 70% chance for a 25bps rate cut in December, from just over 50% a week ago
  • geopolitical tensions in Europe after Russia’s missile attack on Ukraine is also a tailwind for safe-haven asset
gold fed geopolitics 29 November 2024 2