report

Gold and silver December futures are expiring today. The next maturity in gold and silver will be different. Investors will position themselves for the next expiry. In December, the Fed interest rate will be the key. A quarter of a percentage interest rate cut has been priced in by the markets. What if the Fed springs a surprise and cuts interest rates by half a percentage as a Christmas gift? All the metals and energies will zoom and the US dollar will nosedive. So far statistics on US economic growth have been on the lower side. Apart from the Fed meeting, the other key factors to watch out in December are energy prices and economic numbers from the Eurozone and UK. So far growth in Eurozone has shown resilience to a stronger currency and higher energy prices. If Eurozone growth falters in December, then expectations of an interest rate cut might rise which might boost the US dollar.