GOLD
Gold prices fell in early Wednesday trading, extending the losses from the previous session. The precious metal is under pressure as markets shift towards expectations of a less dovish Federal Reserve, following recent US economic data underscoring the economy's strength. Last week’s labour market report showed unexpected resilience, causing traders to revise their expectations from a 50-basis-point rate cut in November to just 25 basis points. This shift has strengthened the US dollar and pushed Treasury yields higher, both of which weigh on non-yielding assets like gold. In this context, traders eagerly await the release of the latest FOMC minutes later today, seeking further clues about the central bank’s likely path for monetary easing.
Ricardo Evangelista – Senior Analyst, ActivTrades
Source: ActivTrader
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