Daily Market Report
➢ Gold price (XAU/USD) surged in Monday’s Asian session, hitting a five-month high near
$3,488, as buyers returned after last week’s profit-taking pullback.
➢ The rebound was fueled by renewed US Dollar weakness, which made the USD-denominated
metal more attractive.
➢ Growing expectations of a Federal Reserve rate cut in September continued to support gold’s
upside momentum.
➢ US inflation data (PCE Price Index) remained above the Fed’s 2% target in July but did not
derail hopes for upcoming monetary easing.
➢ Despite strong growth figures, traders believe the Fed will prioritize easing to balance
inflation and growth risks.
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