Gold prices recovered as US real yields remained unchanged at 1.9906%.
US data released on Wednesday showed the economy growing 2.8% in Q3, below estimates but unchanged from the preliminary estimate.
This, along with the latest Core PCE Price for October coming at 2.8% YoY up from estimates of 2.7%, suggests the disinflation process has stalled and that the Fed might begin to pause cutting rates.
Data from the Chicago Board of Trade, via the December fed funds rate futures contract, shows investors estimate 24 bps of Fed easing by the end of 2024.
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