#central-bank-purchases

#central-bank-purchases

Gold traded near USD 4,000 per ounce on Friday, heading for a second consecutive weekly decline. This week's cautious tone from the US central bank could weigh on gold. While the Federal Reserve cut its interest rates by 25 basis points, Chair Jerome Powell signalled that there was no guarantee of further easing in December. On the geopolitical front, the newly announced trade truce between Washington and Beijing eased global tensions but also reduced immediate safe-haven flows.