Daily Market Report
➢ Gold struggles to extend Wednesday’s recovery due to reduced Fed rate cut expectations.
➢ FOMC Minutes show most officials favor holding rates steady, citing upside inflation risks.
➢ Rising inflation momentum supports the US Dollar (USD), weighing on non-yielding gold.
➢ Trump’s demand for Fed Governor Lisa Cook’s resignation sparks concerns over Fed
independence.
➢ Ongoing criticism of Fed Chair Powell by Trump caps further USD gains, offering some
support to gold.
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