Daily Market Report
➢ Gold (XAU/USD) hit a fresh record high during the Asian session on Tuesday before consolidating
near the peak.
➢ Bulls turned cautious amid overbought conditions and positive equity market sentiment acting as
a headwind.
➢ The Fed’s dovish outlook continues to cap USD recovery and supports gold prices.
➢ The Fed cut rates last week for the first time since December and signaled two more cuts this
year.
➢ Traders expect faster rate cuts than the Fed projects, betting that rates could fall below 3% by
2026.
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