Gold prices hold steady as traders eye possible Fed rate cut
Gold prices stayed pretty much unchanged, sitting at $4,064.32 per ounce after a small drop last week.
The market is buzzing about a potential Federal Reserve rate cut—New York Fed President John Williams even hinted at lower rates, though some officials are still urging caution.
Meanwhile, the US government shutdown has put a pause on key economic reports that usually help guide these big decisions.
Shutdown delays data and adds to uncertainty
Because of the ongoing government shutdown, important reports on retail sales and producer prices have been delayed.
These updates matter because they shape what happens next with interest rates.
Right now, futures trading suggests there's just over a 60% chance the Fed will cut rates next month.
Gold's big year so far
Even with recent ups and downs, gold has jumped around 55% this year thanks to global tensions and economic worries.
Silver, platinum, and palladium have also edged higher.