Gold prices remain flat --
Thursday, 1 February 2024
Gold prices were set to end January in negative territory, snapping a three-month gaining streak on Wednesday, following lowered expectations of early interest rate cuts ahead of the US central bank's outlook on policy rates later in the day, reports Reuters.
Spot gold was flat at $2,037.30 per ounce by 1237 GMT, while US gold futures rose 0.3% to $2,037.30.
Gold has declined 1.2% so far this month after surging to a record high in December, as traders have pared back bets of a March US rate cut. The odds of a Federal Reserve rate cut in March have dropped to about 46% currently, from about 90% a month earlier, according to the CME FedWatch Tool.