Daily Market Report
➢ Gold (XAU/USD) extends its rebound from below the $4,000 psychological level, gaining for a second straight day.
➢ Fragile global risk sentiment due to US economic concerns keeps the USD subdued and supports gold.
➢ USD downside is limited as markets scale back expectations for a December Fed rate cut, capping gold’s upside.
➢ Traders await clearer signals on the Fed’s policy path from FOMC minutes (Wednesday) and NFP data (Thursday).
➢ The prolonged US government shutdown continues to hurt economic momentum and boosts safe-haven demand for gold.
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