"Gold extended its winning streak on Monday, reaching a new record high as renewed volatility surrounding US-China trade relations spurred demand for safe-haven assets. The move followed a turbulent weekend in which President Donald Trump first threatened to impose 100% tariffs on Chinese exports from November 1, only to soften his stance two days later. The renewed trade uncertainty came against the backdrop of a prolonged US government shutdown, which has entered another week and continues to delay key economic data."
"Investors also maintained focus on the Federal Reserve, with markets still expecting two additional 25-basis-point rate cuts this year. The combination of political uncertainty and expectations of easier monetary policy continued to underpin gold's rally. In the Middle East, a ceasefire between Israel and Hamas took hold, marking the official start of a prisoner exchange process under the US-brokered peace plan."
Gold extended a winning streak to a record high as renewed US-China trade volatility increased demand for safe-haven assets. President Donald Trump initially threatened 100% tariffs on Chinese exports effective November 1, then softened his stance two days later. A prolonged US government shutdown entered another week, delaying key economic data. Markets expected two additional 25-basis-point Federal Reserve rate cuts this year, reinforcing expectations of easier monetary policy. A US-brokered Israel-Hamas ceasefire initiated a prisoner exchange and eased regional tensions. Washington reportedly considered sending long-range cruise missiles to Ukraine, raising risks of escalation with Russia.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]