Daily Market Report
➢ Gold (XAU/USD) reverses an early Asian session dip to $3,627–3,626 and trades near the top of its
one-week range.
➢ Rising Fed rate cut bets keep the USD near its lowest since July 24, supporting gold demand.
➢ Traders now fully expect the Fed to cut rates on Wednesday, with two more cuts projected in
October and December.
➢ Depressed US Treasury yields, and a weaker USD continue to act as tailwinds for the non-yielding
metal.
➢ Gold remains capped below last week’s record high near $3,675, as a generally positive risk tone
limits upside.
….Click below View button for more info…