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Gold prices have lost around 2 percent so far this week
Investor sentiment was impacted after the central bank signaled fewer rate cuts next year
The initiative provides accurate data on GDP, inflation, foreign investment, and infrastructure rankings
Market focus is on the bank's economic projections and the dot plot which may offer additional insights into the monetary policy trajectory
CPI illustrates fluctuations in prices that consumers pay for a predetermined basket of goods and services, which includes 490 distinct items
Traders are pricing a 93.4 percent chance of a quarter-point cut during the Fed's December 17-18 meeting
The ECB unanimously decided to reduce the deposit rate by 25 basis points
In five days, the Federal Reserve will meet to decide on whether to cut interest rates this month
Traders currently expect a 98.6 percent chance that the Fed will cut rates by 25 basis points
Inflation data could help set market expectations for the Fed's 2025 policy
Headline inflation climbed to a record high of 38 percent in September 2023 after falling to 26.5 percent in October
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
UAE's economy is set to grow from 3.7 percent in 2024 to 4.5 percent in 2025
Powell is scheduled to speak later in the day, likely marking the last public remarks before the Fed's December meeting
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
UAE's economic growth is projected at 3.3 percent in 2024, driven by 4.1 percent non-oil sector growth
The dollar index fell 0.14 percent to 105.90, raising gold’s appeal among holders of other currencies
The dollar index was up 0.15 percent to 106.25, reducing gold's appeal among holders of other currencies
With Trump back in focus, the precious metals market may see some uncertainty ahead
