Daily Market Report
➢ Gold (XAU/USD) holds intraday gains during the Asian session but remains capped below the $4,950 level ahead of the Federal Open Market Committee (FOMC) Minutes.
➢ The metal has recovered a large portion of Monday’s sharp 2% decline, which had dragged prices to the $4,843–$4,842 area (near a two-week low).
➢ Traders are cautious as the upcoming FOMC Minutes could provide clarity on the Federal Reserve rate-cut trajectory.
➢ A dovish outlook is supported by softer US inflation data and comments from Austan Goolsbee, who suggested multiple rate cuts remain possible if inflation trends toward 2%.
➢ Markets are pricing in a potential rate cut in June and two additional cuts in 2026, which supports demand for non-yielding gold.
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