Daily Market Report
➢ Gold hits record high, breaking above $4,037/oz for the first time, driven by safe-haven
demand.
➢ Fed rate cuts expected: Markets price in a 94% chance of a 25 bps cut in October and 83%
odds of another in December.
➢ US government shutdown enters second week, delaying key data like NFP and fueling
investor uncertainty.
➢ Geopolitical risks in France and Japan add to gold’s appeal; French government resigns,
Japan sees surprise LDP leadership win.
➢ FOMC Minutes due today: Traders await guidance on Fed’s rate path; any hawkish tone could
boost USD and pressure gold.
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