Gold prices are rising back to record levels as markets anticipate critical US economic data, including PCE inflation and advance estimates for Q3 GDP, amidst geopolitical and economic uncertainties.
The rise in gold prices is underpinned by strong demand for safe-haven assets, expectations for monetary policy easing by the Federal Reserve, and ongoing geopolitical risks affecting global stability.
Upcoming US economic releases could reinforce the Federal Reserve's cautious strategy, potentially leading to fewer interest rate cuts than currently expected, which might influence gold prices negatively in the short-term.
Despite potential near-term challenges, the fundamental demand for gold remains strong, indicating its upward trend may continue even if market fluctuations temporarily affect prices.
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