Daily Market Report
➢ Gold prices rise for the third consecutive day buoyed by continued weakness in the US Dollar
amid sustained selling pressure.
➢ US Dollar hits a nearly two-week low, pressured by fiscal concerns and growing market
expectations of Fed rate cuts in 2025.
➢ Safe-haven demand increases as geopolitical tensions and renewed US-China trade disputes
heighten global economic uncertainty.
➢ XAU/USD holds firm above the $3,300 level, marking a one-and-a-half-week high and
signalling strong bullish momentum.
➢ Downgrade of US sovereign credit rating and uncertainty over US fiscal stability continue to
weigh on investor sentiment.
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