Daily Market Report
➢ Gold hit a fresh all-time high in the Asian session but faced slight pullback due to USD
strength.
➢ US Dollar gains modestly, capping gold’s upside despite lacking strong bullish conviction.
➢ Rate cut expectations (two cuts in 2025) continue to support gold amid a dovish Fed outlook.
➢ US government shutdown persists, raising economic concerns and boosting gold’s safehaven
appeal.
➢ S&P 500 and Nasdaq hit record highs, dampening gold demand on improved risk appetite.
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