Gold prices dip as risk appetite ramps up on Fed pause bets

Investing.com-- Gold prices fell in Asian trade on Monday, as any relief over a potential pause in the Federal Reserve’s rate hikes was largely offset by traders selling the yellow metal in favor of more risk-driven assets.But any major upside in the yellow metal was limited, as traders pivoted largely into risk-driven assets such as stocks and currencies.

Concerns over the conflict had driven large gains in gold through October. But with the conflict now appearing unlikely to spill over into the broader Middle East region, traders locked in their profits on the yellow metal.that the Fed will not hike rates any further. The central bank is also expected to begin trimming rates by as soon as June 2024.

U.S. rates are likely to stay higher for longer, pressuring non-yielding assets such as gold. This trade had pressured the yellow metal over the past year.expiring in December jumped 0.7% to $3.6987 a pound, amid some hopes that an end to the Fed’s hiking cycle will help ease pressure on global industrial activity.

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