inflation
This marks the first consecutive rate reduction in 13 years
The committee noted that this decision reflects recent global and local developments
The U.S. retail sales and industrial production data for September, as well as weekly jobless claims data, are all due later today
U.S. dollar index and Treasury yields dipped, making bullion more attractive to other currency holders
Traders are currently pricing an 88.2 percent chance of a 25-basis-point cut in November
Despite the rise in gold prices, the U.S. dollar's recent ascent and rate-cut expectations have limited gains
Brent crude futures for December delivery dropped 0.5 percent to $78.98 a barrel
Market focus now shifts to U.S. Producer Price Index (PPI) report due today
On a month-to-month basis, prices increased by 2.1 percent, consistent with the previous month's 2.1 percent rise
Traders are currently pricing an 84.7 percent chance of a 25-basis-point cut in November
U.S. dollar index rose 0.06 percent to 102.61 earlier in the session, inching closer to the seven-week high it recorded last week
