Daily Market Report
➢ Gold (XAU/USD) drifts lower on Thursday amid profit-taking, risk-on mood in equities, and a
modest USD uptick.
➢ The downside remains limited as Fed rate cut bets keep capping USD strength and supporting
bullion.
➢ S&P 500 and Nasdaq hit fresh record highs, while Japan’s Nikkei 225 gained over 1%, weighing on
safe-haven demand.
➢ Markets fully price in a 25 bps Fed rate cut at September 17 meeting probability of a 50 bps cut
has risen to nearly 12%.
➢ Gold trades around $3,645 in Thursday’s Asian session, buoyed by weaker USD and global
geopolitical risks.
….Click below View button for more info…