The market reacted to recent U.S. economic data, which points to persistent inflation and suggests that the Federal Reserve may adopt a cautious approach to future rate cuts, indicating a complex interplay between inflation, consumer spending, and monetary policy.
Although a December rate cut is still expected, the Fed could reassess its approach as it moves into 2025, highlighting the evolving economic landscape and potential shifts in interest rate strategies.
President-elect Donald Trump's proposed tariffs on imports from Mexico, Canada, and China, along with escalating geopolitical risks, could increase gold's appeal as a safe-haven asset, drawing investor interest amid uncertainties.
Trade policy uncertainties and global tensions could remain key factors for reinforcing demand for gold, suggesting that external economic factors will continue to support the precious metal over the medium term.
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