"Gold recorded some volatility on Friday, but held close to the levels seen this week amid lower liquidity as US markets went through a holiday and a shorter trading day today and as the CME outage affected market operations. However, the metal is set to end the week in positive territory, effectively reversing the prior week's pullback, and is also on track to secure a fourth consecutive monthly advance."
"At the same time, the underlying tone remains constructive. Growing expectations of a December Federal Reserve rate cut continue to anchor the bullish narrative, with investors pricing in more than an 85% probability of a 25-basis-point move. The shift follows a wave of comments from Fed officials highlighting labour-market fragility. The prospect of potential leadership changes at the Fed has added to the dovish bias."
Gold recorded volatility on Friday but remained near weekly levels amid lower liquidity from a US holiday, a shorter trading day and a CME outage. The metal is set to finish the week higher, reversing the prior week's pullback and remaining on track for a fourth consecutive monthly advance. Rising expectations of a December Federal Reserve rate cut anchored bullish sentiment, with investors pricing in over an 85% probability of a 25-basis-point move. Fed officials' comments on labour-market fragility and potential leadership changes added to the dovish bias. Uncertainty over a ceasefire in Eastern Europe and upcoming PCE, jobless claims, PMI data and Fed speeches could create volatility and shift rate-cut expectations.
Read at London Business News | Londonlovesbusiness.com
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