Daily Market Report
➢ Gold retreats from record high: XAU/USD pulls back sharply from the $3,578–$3,579 all-time
peak during the Asian session.
➢ Profit-taking emerges: Stability in global bond and equity markets eases safe-haven demand,
prompting selling in gold.
➢ USD recovery weights: A modest US Dollar uptick adds further pressure, especially amid
overbought conditions.
➢ Fed rate cut expectations intact: JOLTS Job Openings data signals labor market cooling,
reinforcing bets of a Fed rate cut this month.
➢ Two rate cuts priced in: Markets anticipate at least two 25-bps cuts by the Fed before year-end,
limiting USD strength and cushioning gold.
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