Express
Gold Holds Above $4100 Supported by Rate Cut and Data Clarity Expectations
Summary: According to sources, the spot gold price remains above $4,100 as signs of weakness in the US labor market emerge and Congress nears the end of the government shutdown. New private sector data shows US companies cut an average of 11,250 jobs per week in the four weeks ending in late October, reinforcing expectations of ...
According to sources, the spot gold price remains above $4,100 as signs of weakness in the US labor market emerge and Congress nears the end of the government shutdown. New private sector data shows US companies cut an average of 11,250 jobs per week in the four weeks ending in late October, reinforcing expectations of further rate cuts this year. Meanwhile, Mitsubishi UFJ Financial Group analyst Soojin Kim stated that with the government set to reopen, official economic data is expected to resume, providing clarity for future monetary policy decisions. Supported by central bank purchases and its attractiveness as a hedge against global uncertainty, the precious metal continues to maintain a 56% increase this year.
Tags:
Link: Gold Holds Above $4100 Supported by Rate Cut and Data Clarity Expectations [Copy]
