"Gold edged higher on Wednesday, but remained below the USD 4,000 per ounce mark, while investors awaited key US labour and activity data for fresh policy cues. The upcoming ADP employment report and ISM services PMI could shape expectations for the Federal Reserve's next moves. Signs of a softening labour market or weaker business activity would likely reinforce dovish bets, push Treasury yields lower, and support gold prices."
"Markets currently assign around a 70% probability of a December rate cut, down from nearly 90% before the latest FOMC decision, after several Fed officials echoed Chair Jerome Powell's cautious stance last week. At the same time, easing tensions between Washington and Beijing have curbed safe-haven inflows, keeping bullion's potential in check. Still, broader geopolitical uncertainty continues to underpin demand. Tensions in the Middle East and Eastern Europe remained high and could help reduce the downside risks for gold."
Gold edged higher but remained below the USD 4,000 per ounce level as markets awaited upcoming US labour and activity data. The ADP employment report and ISM services PMI could influence expectations for the Federal Reserve's next policy moves. Signs of a softer labour market or weaker business activity would likely increase dovish expectations, lower Treasury yields, and support gold prices. Markets price roughly a 70% chance of a December rate cut, down from nearly 90% before the FOMC after several Fed officials echoed Chair Powell's cautious stance. Easing US-China tensions have curbed safe-haven inflows, while geopolitical tensions in the Middle East and Eastern Europe continue to underpin demand.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]