Gold prices dip as investors cash out; Fed's next move keeps markets guessing
Gold slipped 0.5% on Thursday to $4,145.08 per ounce after a recent rally, as many investors decided to lock in profits.
The drop comes with everyone watching the US Federal Reserve's upcoming December meeting, where another interest rate cut is on the table.
Why does this matter?
Gold usually shines when interest rates are low—it's seen as a safe place for your money when things feel uncertain.
Right now, there's about an 80% chance the Fed will cut rates again soon.
In India, gold prices echoed global moves, with 24-karat gold at nearly ₹12,791 per gram on November 27.
What's causing all this uncertainty?
Fed officials can't agree on what to do next: some want more rate cuts because of weak job data and falling bond yields, while others want to wait until inflation drops closer to their 2% goal.
This split is making investors nervous and driving up demand for safe bets like gold.