Daily Market Report
➢ Gold dips then rebound: XAU/USD reverses an Asian session pullback near $3,750, holding close
to its all-time high.
➢ Fed rate cut bets: Traders expect further cuts in October and December, after the Fed’s 25 bps cut
earlier this month, supporting gold demand.
➢ Powell’s caution: Fed Chair Jerome Powell signaled the need for balance between inflation
control and a weakening job market, tempering aggressive cut expectations.
➢ USD gains modest traction: Powell’s remarks helped the US Dollar snap a two-day losing streak,
partially capping gold’s upside.
➢ Geopolitical tensions: The ongoing Russia-Ukraine war and conflicts in the Middle East continue
to fuel safe-haven demand.
….Click below View button for more info…