Gold prices remained stable on Tuesday, October 15, as investors looked for new insights into the Federal Reserve’s position on U.S. interest rate reductions to guide market direction.
At 00:22 GMT, spot gold held steady at $2,648.89 per ounce, while U.S. gold futures were also stable at $2,665.50.
Federal Reserve Governor Christopher Waller emphasized the need for “more caution” regarding future interest rate cuts, noting that the economy is currently in a favorable position. Meanwhile, Minneapolis Fed President Neel Kashkari indicated that additional rate reductions are likely as the central bank approaches its 2% inflation target.
According to the CME Group’s FedWatch tool, there is an 86.5% probability of a 25-basis-point reduction during the Fed’s upcoming November meeting. Lower interest rates typically enhance the attractiveness of holding non-yielding bullion.
Investors are also closely monitoring upcoming U.S. economic data, including retail sales, industrial production figures, and weekly jobless claims, which are expected to be released later this week.
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