Market analysis: Expectations of a 50 basis point rate cut by the Federal Reserve and the election boost gold prices

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ODAILY
2 days ago
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Odaily Odaily News: Gold prices rose slightly in early Asian trading. Tickmill analyst Joseph Dahrieh said that driven by the weakness of the US dollar and the rising expectations of a sharp interest rate cut by the Federal Reserve, gold prices are still close to historical highs. Dahrieh said that recent US job market data showed an economic slowdown, which increased the possibility of a 50 basis point interest rate cut. Dahrieh also said that the increase in political uncertainty before the US November election has also increased the attractiveness of gold as a safe-haven asset. (Jinshi)

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