Gold News – 11.Sep.2024

Gold News

Gold held steady around $2,520 per ounce as markets awaited the US inflation report.

The recent US jobs report showed mixed results: fewer jobs were added, but the unemployment rate dropped slightly.

US inflation is expected to slow to 2.6% in August, down from 2.9% in July, with the monthly rate steady at 0.2%.

Markets anticipate a 67% chance of a 25 bps rate cut and a 33% chance of a 50 bps cut at the upcoming Fed meeting.

Less restrictive monetary policy could support gold by reducing the opportunity cost of holding non-interest-bearing assets.

Traders are monitoring the first debate between Kamala Harris and Donald Trump for potential market impact.

Author : Arman Shaban
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