"Gold edged higher on Friday, hovering near the key USD 4,000 per ounce level, as renewed expectations of a Federal Reserve rate cut supported the metal. Despite the gains, bullion was set to close the week with a limited performance. The move followed disappointing US labour market data that reignited dovish sentiment. Markets reacted to data showing that the US economy saw 150,000 job cuts in October, reinforcing expectations of a slowing job market."
"Markets now assign around a 65% probability of another rate cut in December. Still, caution from Federal Reserve officials such as Chicago Fed President Austan Goolsbee, who warned against premature easing amid incomplete inflation data, could cap further gains, keeping yields supported and limiting upside for gold. Meanwhile, persistent geopolitical instability continued to bolster safe-haven demand. Increasing tensions in Eastern Europe and the Middle East underscored the fragile security backdrop that continues to underpin bullion's appeal."
Gold edged higher and hovered near USD 4,000 per ounce as renewed expectations of a Federal Reserve rate cut bolstered demand. Disappointing US labour market data, including 150,000 job cuts in October, reignited dovish sentiment and raised market odds of a December rate cut to around 65%. Caution from Federal Reserve officials, notably Chicago Fed President Austan Goolsbee, warned that easing could be premature amid incomplete inflation data, potentially capping further gains and keeping yields supported. Persistent geopolitical instability, with rising tensions in Eastern Europe and the Middle East, continued to underpin safe-haven demand for bullion.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]