Gold is on hold ahead of the Federal Reserve’s interest-rate decision, with markets anticipating a possible increase in December. According to Rick Kanda, managing director at The Gold Bullion Company, a hawkish signal could weigh on the metal in the short term, while a more dovish message would support it. The analyst nevertheless expects a longer-term recovery driven by demand for portfolio diversification, geopolitical uncertainty, central-bank purchases and a strengthening dollar. Interest-rate futures indicate an 83.6% probability of a 25-basis-point increase in December, bringing the target rate to 4%-4.25%, while the likelihood of a pause stands at 16.4%.
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