Gold Prices Plummet on Rate Cut Hopes
Update: 2025-11-18
Description
Gold prices plummeted for four consecutive days due to shifting expectations of a US interest rate cut, dipping below $4,000 an ounce before recovering. Federal Reserve officials caution on further rate reductions, along with the recent US government shutdown, have dampened the outlook for gold. Despite this, gold has still surged over fifty percent this year, on track for its best annual performance since 1979. Central banks strong gold purchases, with an estimated sixty-four tons bought in September alone, are expected to continue supporting gold prices.
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