Daily Market Report
➢ Gold (XAU/USD) extends its decline for a third straight day, trading near a one-week low after failing to hold above $4,100.
➢ Reduced expectations of a December Fed rate cut strengthen the US Dollar, pressuring the non-yielding metal.
➢ Several FOMC members signaled reluctance toward further easing, reinforcing a cautious Fed stance.
➢ Kansas City Fed President Jeffrey Schmid said inflation remains too high, leaving no room for complacency.
➢ Market pricing for a 25 bps December rate cut dropped below 50%, weighing on gold last week.
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