Daily Market Report
➢ Gold (XAU/USD) finds dip-buying support near $3,620 during the Asian session, stalling its
pullback from Tuesday’s all-time peak.
➢ Fed rate cut expectations remain strong, with markets pricing in three cuts by year-end and even
a small chance of a 50-bps cut next week.
➢ Weak US jobs data reinforced bets on a softer Fed stance, boosting demand for the non-yielding
yellow metal.
➢ Trade-related uncertainties grow as Trump urges the EU to impose 100% tariffs on Chinese and
Indian goods, with the US prepared to mirror them.
➢ Political jitters add to safe-haven demand France’s PM Bayrou resigns after losing confidence
vote, and Japan’s PM Ishiba announces resignation as LDP leader.
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