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GOLD: Steady on a Slower Fed and Disappointment from China. 

GOLD
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  • Gold prices were steady in Asian trading time today given traders pricing in a slower Fed rate cutting cycle and China’s Ministry of Finance release failing to provide new stimulus measures.
  • Having slipped to $2,645 in the morning session, gold firmed back to Friday’s close at $2,655.
  • Typically benefiting from rate cuts, Gold has performed well this year up over 20%.
  • Following the stronger than expected September jobs report, the number of rate cuts for the remainder of the year has been questioned, with markets now pricing in less than two.
  • Any further stronger than expected data could further challenge this and put a cap on gold’s upside into year end. 
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  • Gold prices were steady in Asian trading time today given traders pricing in a slower Fed rate cutting cycle and China’s Ministry of Finance release failing to provide new stimulus measures.
  • Having slipped to $2,645 in the morning session, gold firmed back to Friday’s close at $2,655.
  • Typically benefiting from rate cuts, Gold has performed well this year up over 20%.
  • Following the stronger than expected September jobs report, the number of rate cuts for the remainder of the year has been questioned, with markets now pricing in less than two.
  • Any further stronger than expected data could further challenge this and put a cap on gold’s upside into year end.