Daily Market Report
➢ Gold hit a fresh record high near $3,546–3,547 during the Asian session on Wednesday before
easing lower.
➢ Fed rate cut bets remain a strong tailwind, with markets pricing a 90% chance of a 25-bps cut on
Sept 17 and at least two cuts by year-end.
➢ Trade-related uncertainties and political risks continue to underpin gold’s safe-haven demand.
➢ A firm USD recovery supported by weakness in GBP and JPY amid fiscal worries capped further
gold gains.
➢ Overbought RSI levels on daily charts prompted caution among bulls.
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