Daily Market Report
➢ Gold (XAU/USD) extends follow-through buying on Monday, climbing toward the $3,700 mark, near
last week’s all-time high.
➢ The Fed’s dovish signal—two more rate cuts expected this year—continues to provide strong
support for the non-yielding metal.
➢ Geopolitical tensions, including NATO intercepting Russian jets and Trump warning on EU
defence, add to safe-haven demand.
➢ The USD strengthens, extending its recovery from a multi-year low on the back of Fed Chair
Powell’s more hawkish remarks.
➢ Powell emphasized that inflation risks remain tilted to the upside and stressed a cautious,
meeting-by-meeting approach to rate cuts.
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