Central Bank
Traders currently see an 89.5 percent chance of a Fed rate cut this month
The number of oil and gas rigs deployed in the U.S. last week hit the highest since mid-September
Strong central bank buying, monetary policy easing and geopolitical tensions have driven gold prices to multiple record highs this year
Markets currently see a 70.1 percent chance of a 25-basis-point cut by the Federal Reserve in 12 days
Fed Chair Jerome Powell said on Wednesday the U.S. economy is stronger than the central bank expected in September
Brent crude futures, set to expire in February, climbed by 0.1 percent to $72.37 a barrel
Powell is scheduled to speak later in the day, likely marking the last public remarks before the Fed's December meeting
Brent oil futures for February delivery dipped 0.1 percent to $73.58 a barrel
The group will likely extend its output cuts until the end of the first quarter of 2025 amid supply concerns
The dollar index was up 0.07 percent to 106.52, reducing gold’s appeal among holders of other currencies
In the UAE, gold rates fell by AED3.75, with 24-carat gold priced at AED318.25 and 22-carat gold at AED294.50
