Gold Holds Key Support As Soft U.S. Data Strengthens Fed Rate-Cut Outlook
Gold holds key support as soft U.S. data and cooling inflation boost expectations for Fed rate cuts.
Weak Labor Market Supports Outlook For Another Rate Cut
Markets were already expecting that the Federal Reserve would cut interest rates again at next week’s policy meeting ahead of yesterday’s ADP estimate of private non-farm payrolls for November.
Gold Analysis: New Record Bullish Path
Gold continues its strong bullish trend, trading near $4200 amid USD weakness and rising rate cut expectations, with technical signals pointing to a potential breakout toward record highs.
'No Hire, No Fire' Economy Confirmed As US Jobless Claims & Hiring Plans Plummet
Initial jobless claims continue to signal no labor market pain at all, plummeting last week to 191k (the lowest since Sept 2022 and before that the lowest since 1969).