Gold Prices Surge as Rate Hike Odds Plummet
US News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Gold prices surged on Wednesday, rebounding from a four-month low, as falling oil prices eased inflation fears and reduced the likelihood of a Federal Reserve rate hike. Investors reacted by cutting the odds of a December rate hike to 16%, down from 25% late last week. Precious metals, including silver, platinum, and palladium, also gained ground as market shifts played out against the backdrop of global conflicts.
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