Daily Market Report
➢ Gold trades near $4,215 in early Asian hours, supported by dovish Fed expectations.
➢ Traders price in 88.4% probability of a 25 bps Fed rate cut on Wednesday.
➢ Cooling US labor market boosts expectations for Fed easing despite inflation >2% target.
➢ Lower rates reduce Gold’s opportunity cost, providing upside support.
➢ PBoC increases gold reserves for the 13th straight month, adding 30,000 oz.
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