<\/p>\n\n\n\n
Gold hovered near a six-week peak on Monday, supported by a softer U.S. dollar and firm expectations that the Federal Reserve will cut interest rates later this month.<\/p>\n\n\n\n
By 02:32 ET (06:32 GMT), spot gold<\/strong> was up 0.2% at $4,240.55<\/strong> an ounce, after briefly touching $4,256.20<\/strong>, its highest level since mid-October. February gold futures<\/strong> rose 0.5% to $4,274.55<\/strong>. The U.S. Dollar Index<\/strong> slipped to a two-week low<\/strong>, making gold more appealing for overseas buyers. Broader risk-off sentiment<\/strong> across global markets also helped sustain safe-haven demand.<\/p>\n\n\n\n Markets now price an 87% probability<\/strong> of a 25-basis-point Fed cut<\/strong> at the December 9\u201310 meeting, driven by a series of softer U.S. economic indicators and signs that inflation pressures are cooling<\/strong>. Political developments added another layer of momentum for gold. Speculation has resurfaced around several contenders, including:<\/p>\n\n\n\n The identity of the next chair will likely shape expectations around the pace and depth of rate cuts<\/strong> over the coming year\u2014an important driver for gold.<\/p>\n\n\n\n With uncertainty high across monetary and political fronts, gold\u2019s near-term momentum remains intact as investors seek protection from volatility across both currency and equity markets.<\/p>\n\n\n\n Precious and industrial metals posted a mixed performance:<\/p>\n\n\n\n Fresh data from China showed factory activity contracting for an eighth straight month<\/strong>, with both official and private PMIs signaling ongoing weakness in the world\u2019s biggest metals consumer.<\/p>\n","protected":false},"excerpt":{"rendered":" Gold hovered near a six-week peak on Monday, supported by a softer U.S. dollar and firm expectations that the Federal Reserve will cut interest rates later this month. By 02:32 ET (06:32 GMT), spot gold was up 0.2% at $4,240.55 an ounce, after briefly touching $4,256.20, its highest level since mid-October. February gold futures rose …<\/p>\n","protected":false},"author":9,"featured_media":105896,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,37,36],"tags":[],"class_list":["post-121298","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/121298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=121298"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/121298\/revisions"}],"predecessor-version":[{"id":121299,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/121298\/revisions\/121299"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/105896"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=121298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=121298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=121298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Bullion gained more than 4% last week<\/strong>, extending its strong upward momentum.<\/p>\n\n\n\nWeaker Dollar, Fed Cut Bets Lift Gold<\/strong><\/h3>\n\n\n\n
However, the absence of fresh official data\u2014owing to the prolonged government shutdown\u2014has left some investors cautious, with mixed comments from Fed officials<\/strong> adding to policy uncertainty.<\/p>\n\n\n\nFed Chair Speculation Adds Intrigue<\/strong><\/h3>\n\n\n\n
U.S. President Donald Trump<\/strong> said Sunday he already knows whom he will nominate as the next Federal Reserve Chair<\/strong>, though he stopped short of naming the candidate.<\/p>\n\n\n\n\n
Silver Hits Record High; Copper Holds Steady<\/strong><\/h3>\n\n\n\n
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