GOLD
Gold prices rose in early Monday trading, hitting a ten-day high. Despite shifting expectations regarding the Federal Reserve's rate cuts, demand for the precious metal continues to be bolstered by safe-haven buying, fueled by geopolitical instability in the Middle East and persistent concerns over China's economic performance. Earlier in the month, a robust U.S. jobs report and last week’s higher-than-expected inflation data have eliminated the likelihood of a 50-basis-point rate cut in November. Nonetheless, further rate reductions remain on the horizon. Against this backdrop, gold prices are expected to stay range-bound in the short term, as competing forces unfold: safe-haven demand, driven by geopolitical tensions and economic uncertainty, versus the market's adjustment to a less dovish outlook for Fed policy.
Ricardo Evangelista – Senior Analyst, ActivTrades
Source: ActivTrader
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