Gold futures fell to a nearly 3-month low of $4,049.10.
December Gold futures dropped for the third time in four sessions to hit a nearly three-month intraday low of $4,049.10, extending a 3.79% decline since the October 9 swing high close. Bob Iaccino of Path Trading Partners evaluates the pressure on non-yielding bullion amid resilient macroeconomic data and hawkish Federal Reserve expectations. While benchmark Treasury yields edged lower on equity market weakness, the CME FedWatch Tool reflects a 67% probability of a December rate hike following stronger-than-expected September CPI data. Additionally, initial jobless claims dropped to 194,000—holding near historic lows since 1969—underscoring labor market strength that affords the Fed flexibility to prioritize inflation.
December Gold futures dropped for the third time in four sessions to hit a nearly three-month intraday low of $4,049.10, extending a 3.79% decline since the October 9 swing high close. Bob Iaccino of Path Trading Partners evaluates the pressure on non-yielding bullion amid resilient macroeconomic data and hawkish Federal Reserve expectations. While benchmark Treasury yields edged lower on equity market weakness, the CME FedWatch Tool reflects a 67% probability of a December rate hike following stronger-than-expected September CPI data.
Additionally, initial jobless claims dropped to 194,000—holding near historic lows since 1969—underscoring labor market strength that affords the Fed flexibility to prioritize inflation.