Daily Market Report
➢ Gold extends gains for the fourth consecutive session, reaching a near two-week high around
$3,344–$3,345 in the Asian trading hours.
➢ US fiscal concerns deepen as Moody’s downgrades US sovereign credit rating and deficit
worries persist following Trump’s expansive tax policies.
➢ Renewed US-China trade tensions and broader geopolitical risks lift safe-haven demand,
adding further support to gold prices.
➢ Weak demand for 20-year US bonds signals investor hesitation towards US assets, reinforcing
bullish sentiment for gold.
➢ Market pricing in Fed rate cuts for 2025 due to cooling inflation and slowing economic
growth, weakening the USD further.
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