Daily Market Report
➢ Gold (XAU/USD) rose to a three-week high near $4,219 on Thursday, reversing earlier Asian session losses.
➢ Fed rate cut expectations for December (around 60% odds of a 25-bps cut) continue to pressure the US Dollar, supporting gold prices.
➢ Economic weakness concerns persist due to delayed US macro data following the prolonged government shutdown.
➢ The reopening of the US government boosts market sentiment but may limit safe-haven demand for gold.
➢ Analysts estimate the shutdown shaved 1.5–2.0% off quarterly GDP, fueling concerns about slowing growth.
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