Daily Market Report
➢ Gold steadies near $3,750 after reversing a modest dip, supported by dovish Fed expectations and
safe-haven demand.
➢ Fed rate-cut bets remain strong with markets pricing in >85% odds of a 25-bps cut in October and
~60% for December.
➢ US Dollar rally capped despite hitting a 3-week high, as rate-cut expectations weigh against strong
economic data.
➢ Trump’s new tariffs announced: 100% on branded/patented pharmaceuticals, 25% on heavy-duty
trucks, and 50% on kitchen cabinets starting October 1.
➢ Geopolitical risks and trade worries add to safe-haven flows supporting gold demand.
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