Monday, 17 December 2018 09:18 WIB |
PRECIOUS METALS |GOLDEMAS
Gold held its ground after a two-day drop as investors counted down to the Federal Reserve™s final rate-setting meeting of 2018, with policy makers expected to boost borrowing costs and map out priorities for 2019.
While higher rates tend to curb bullion™s appeal, many investors are betting on a slower pace of tightening next year. Money managers™ bullish bets on gold outnumbered bearish wagers for the first time in five months, and holdings in bullion-backed exchange-traded funds are at the highest since July.
After raising rates three times in 2018, Fed policy makers open their final meeting of the year on Tuesday amid expectations for a fourth hike. After the decision, Chairman Jerome Powell addresses the media.
A partial U.S. government shutdown could start this week if lawmakers and President Donald Trump fail to resolve how much money to allocate for Trump™s wall along the Mexican border.
Spot gold -0.1% to $1,237.79/oz at 9:36am in Singapore.
Source : Bloomberg