Daily Market Report
➢ Gold consolidation: XAU/USD is consolidating after pulling back from a fresh record high above
$3,700, reached post-FOMC dovish rate cut.
➢ Fed move: The Federal Reserve cut rates by 25 bps, setting the funds rate to 4.00%–4.25%, the first
cut since December.
➢ Future cuts expected: The Fed signaled two more rate cuts in 2025 due to concerns about a
weakening labor market.
➢ Powell’s stance: Fed Chair Jerome Powell described the move as a “risk management cut” but
noted no rush to cut further, helping the USD recover.
➢ USD impact: The US Dollar bounced from multi-year lows, capping gold’s upside, as Treasury
yields also rebounded.
….Click below View button for more info…