Gold prices experienced a period of stabilization on Monday around $4,080 per ounce, following a two-day decline. Investors are keenly awaiting the release of several delayed US economic reports this week, hoping for insights into the Federal Reserve’s future monetary policy decisions. The non-farm payrolls report due on Thursday and the Fed’s meeting minutes scheduled for Wednesday will be particularly scrutinized.
- Gold prices steadied around $4,080 per ounce on Monday.
- Investors are awaiting US economic data for clues on the Fed’s policy outlook.
- September’s non-farm payrolls report is a key focus.
- The Fed’s latest meeting minutes will be parsed on Wednesday.
- Expectations for a December rate cut have diminished.
- Markets now assign a 46% probability to a December rate cut.
- Gold is up 55% so far this year.
- Gold is on track for its strongest annual gain since 1979.
- Gains are buoyed by central bank buying and investor demand.
- Investors are seeking protection against rising fiscal and geopolitical risks.
This suggests a complex situation for the asset. While immediate price movements are muted in anticipation of economic data releases, underlying factors are strongly supportive. Diminished expectations of a near-term interest rate cut could put downward pressure on the asset. However, the year-to-date performance and strong drivers like central bank purchases and safe-haven demand are indicative of sustained long-term appeal and resilience.