403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Today's markets analysis on behalf of Joseph Dahrieh, Managing Principal at Tickmill
(MENAFN- Your Mind Media ) 25th September 2024
Gold was relatively flat after a rally yesterday that pushed it to a new record high. The metal remains robust as expectations for further monetary easing grow. Yesterday’s data revealed a larger-than-expected drop in U.S. consumer confidence, reinforcing dovish comments from Federal Reserve officials. Consequently, the market now anticipates another 75 basis point rate cut by year-end. The expectations could support gold prices while weighing on the dollar. Market participants are now focusing on upcoming economic data, including the Personal Consumption Expenditures (PCE) report, the Fed’s preferred inflation measure, for further guidance.
Meanwhile, rising geopolitical tensions continue to drive safe-haven demand for gold as concerns about a broader conflict escalate. Political uncertainty in the U.S. ahead of the November presidential election is also contributing to market volatility. These factors suggest a positive outlook for gold in the short to medium term, supported by steady demand from central banks and the global trend of monetary easing in major economies.
Gold was relatively flat after a rally yesterday that pushed it to a new record high. The metal remains robust as expectations for further monetary easing grow. Yesterday’s data revealed a larger-than-expected drop in U.S. consumer confidence, reinforcing dovish comments from Federal Reserve officials. Consequently, the market now anticipates another 75 basis point rate cut by year-end. The expectations could support gold prices while weighing on the dollar. Market participants are now focusing on upcoming economic data, including the Personal Consumption Expenditures (PCE) report, the Fed’s preferred inflation measure, for further guidance.
Meanwhile, rising geopolitical tensions continue to drive safe-haven demand for gold as concerns about a broader conflict escalate. Political uncertainty in the U.S. ahead of the November presidential election is also contributing to market volatility. These factors suggest a positive outlook for gold in the short to medium term, supported by steady demand from central banks and the global trend of monetary easing in major economies.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment