Daily Market Report
➢ Gold (XAU/USD) edged lower during Wednesday’s Asian session, ending a three-day rally that lifted prices to a three-week high near $4,150–$4,155.
➢ Progress toward reopening the US government boosted risk sentiment, reducing demand for safe-haven assets like gold.
➢ A pickup in US Dollar (USD) demand added further downward pressure on the precious metal.
➢ Despite the USD rebound expectations of a Fed rate cut in December limited the greenback’s upside and prevented deeper gold losses.
➢ Traders anticipate that the economic fallout from the prolonged government shutdown will push the Fed to ease policy further.
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