Gold prices have remained strong following yesterday's rally to record highs, amid increasing expectations for more monetary easing and declining consumer confidence in the U.S.
A larger-than-expected drop in U.S. consumer confidence has led market participants to anticipate a 75 basis point rate cut by year-end, which could further support gold prices.
Rising geopolitical tensions and political uncertainty ahead of the November presidential election are fueling safe-haven demand for gold, suggesting a bright outlook for the metal.
The demand for gold is expected to remain robust due to ongoing geopolitical concerns and central banks' steady purchases, driven by the global trend of monetary easing.
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