Gold Rises Amid Anticipation of Delayed Economic Data
Gold prices climbed as investors awaited a flood of delayed U.S. economic data following the end of the government shutdown. Spot Gold gained 0.92% to $4,112.47 in early trading, with market participants scrutinizing upcoming Federal Reserve minutes for clues on interest rate direction.
Rate cut expectations have softened after recent Fed commentary, with swaps now pricing just a 50% chance of easing next month. The September jobs report, though outdated, will provide critical insights into the health of the world's largest economy after the six-week funding gap.
"The price action shows Leveraged traders' forced selling is being absorbed by long-term investors and central banks," said Ole Hansen, head of commodities strategy. This dynamic underscores gold's resilience in volatile markets as a hedge against uncertainty.
