Spot Gold Drops 1.8% to $3,910 per Ounce
Spot gold fluctuated around the $4,000 mark after the Fed’s rate decision, highlighting continued market sensitivity to monetary policy developments.
Summary
After the Federal Reserve’s rate decision on October 30, spot gold initially fell to $3,979.9 per ounce before rebounding to $4,005.8, a short-term swing of about $25. It last traded at $3,997, reflecting ongoing volatility in precious metals pricing. This comes after recent intraday highs above $4,030 and notable gains in spot silver, indicating continued investor responsiveness to macroeconomic events.
Terms & Concepts
- Spot Gold: The current market price at which gold can be bought or sold for immediate delivery.
- Spot Silver: The current market price at which silver can be bought or sold for immediate delivery.