Gold News – 31.Oct.2024

Gold News

Gold Stability: Gold remained above $2,780 per ounce as safe-haven demand persisted amid US election uncertainties and geopolitical risks.

US Economic Data: Q3 GDP grew by 2.8%, slightly below expectations, while high consumer spending raised inflation concerns.

Monetary Easing Outlook: Anticipation of further Federal Reserve easing is supporting gold, as lower rates make non-yielding bullion more appealing.

Upcoming Data: Investors await PCE and payroll data for further market direction.

Author : Arman Shaban
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