Awaiting Crucial Economic Decisions

Global gold prices executed a massive financial surge today. Investors eagerly anticipate the upcoming Federal Reserve monetary policy decision. Markets expect the American central bank to keep interest rates completely unchanged today. Spot gold rose 0.1 percent to hit $4,061.86 an ounce. United States gold futures for December delivery settled at $4,075.60.

Tracking Massive Inflation Data

Traders nervously await crucial personal consumption expenditures data this Thursday. The central bank desperately monitors this specific inflation indicator. Officials want to force national inflation down to exactly two percent. The CME Group FedWatch tool reveals terrifying trader expectations. Markets see an 84 percent probability of a massive December rate hike.

Crushing Precious Metal Appeal

Higher interest rates ruthlessly crush the appeal of non-yielding gold bullion. Other precious metals experienced highly mixed financial results today. Silver rose 0.1 percent to hit $54.38 an ounce. Platinum fell 0.2 percent to settle at exactly $1,537.58. Palladium executed a spectacular 0.5 percent surge to reach $1,031.42.

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