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Gold ETFs Gain as Government Reopens and Rate Cut Expectations Rise
Gold ETFs Gain as Government Reopens and Rate Cut Expectations Rise
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BTCCSquare news:
Gold-linked ETFs saw notable gains as the precious metal's price rose following the reopening of the U.S. government. The SPDR Gold Shares ETF (GLD) climbed nearly 1%, while the VanEck Gold Miners ETF (GDX) advanced 1.34%. Gold futures edged up 0.4% to $4,231.50 per ounce, with spot gold following suit at $4,231.39, a 0.50% increase.
The catalyst was President Trump's overnight signing of legislation to end the 43-day government shutdown, which had stalled critical economic data releases. With labor and inflation reports now expected to resume, markets anticipate renewed pressure on the Federal Reserve to cut rates. A Reuters poll shows 80% of economists forecasting a 25-basis-point reduction at December's meeting.
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