Gold is trading higher with some stability above $4,200 an ounce in midday European trading on Tuesday, December 10th, amid anticipation of the US Federal Reserve’s final meeting of the year on Wednesday. Market expectations of an interest rate cut are expected to support the rise in the precious metal, which is trading up by about 0.33% at $4,203 an ounce. Silver is trading at $58.66 an ounce, up 0.92%.

Investors are awaiting the US Federal Reserve meeting, which begins today and concludes tomorrow, Wednesday, December 10th, the last meeting of the year. Market expectations of a Fed rate cut at tomorrow’s meeting have risen, with the CME FedWatch tool showing an 89% probability of a 25 basis point cut. All eyes are now on the quarterly Fed Bulletin, the Fed’s policy statement on interest rates and inflation, which is released every three months and is considered the main market driver. Estimates suggest that markets may see two more interest rate cuts next year.

Platinum, in turn, is trading at $1644, up 0.16%, while palladium is up about 0.41%, trading at $1471.