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GOLD: Gold Edges Higher on Light Volumes.

GOLD
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  • As the US averted a shutdown data released shows the US consumer’s confidence has slipped for the first time in three months on concerns that the Trump administration will create uncertainty with their policies.
  • The Consumer confidence index dipped to 104.7 from 111.7 in the month prior and headline durable good figure of -1.1% MoM was viewed as a miss and despite the data, bonds sold off taking gold with it.
  • Opening at $2,612.29 in light volumes it drifted up to $2,619.85.
  • Having had a strong year on the outlook for rate cuts, the next few months for gold will hinge on the ability of the Fed Reserve to deliver rate cuts in 2025 and the subsequent impact on the USD.
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  • As the US averted a shutdown data released shows the US consumer’s confidence has slipped for the first time in three months on concerns that the Trump administration will create uncertainty with their policies.
  • The Consumer confidence index dipped to 104.7 from 111.7 in the month prior and headline durable good figure of -1.1% MoM was viewed as a miss and despite the data, bonds sold off taking gold with it.
  • Opening at $2,612.29 in light volumes it drifted up to $2,619.85.
  • Having had a strong year on the outlook for rate cuts, the next few months for gold will hinge on the ability of the Fed Reserve to deliver rate cuts in 2025 and the subsequent impact on the USD.