{"id":15622,"date":"2024-11-04T02:59:46","date_gmt":"2024-11-04T02:59:46","guid":{"rendered":"https:\/\/www.vglobaltrader.com\/?p=15622"},"modified":"2024-11-04T02:59:46","modified_gmt":"2024-11-04T02:59:46","slug":"gold-holds-steady-with-us-elections-rate-cuts","status":"publish","type":"post","link":"https:\/\/www.vglobaltrader.com\/kur\/analysis\/gold-holds-steady-with-us-elections-rate-cuts\/","title":{"rendered":"Gold Holds Steady with US Elections, Rate Cuts"},"content":{"rendered":"\n<p><em>Listen to the article here:<\/em><\/p>\n\n\n\n<figure class=\"wp-block-audio\"><audio controls src=\"https:\/\/www.vglobaltrader.com\/wp-content\/uploads\/2024\/11\/15622.mp3\"><\/audio><\/figure>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Key points:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Gold prices edge up as US presidential election and Fed rate cuts approach.<\/li>\n\n\n\n<li>Fed decision likely to cut rates, keeping gold in focus as a safe-haven asset.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p>Gold prices maintained stability on Monday, as market participants anticipated a pivotal week featuring the U.S. presidential election and a possible rate cut from the Federal Reserve.<\/p>\n\n\n\n<p>Spot gold edged up by 0.1% to $2,738.29 per ounce, staying close to last Thursday&#8217;s record of $2,790.15. U.S. gold futures held steady at $2,747.50, reflecting caution among traders ahead of major economic events.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.vglobaltrader.com\/wp-content\/uploads\/2024\/11\/image-5-1024x471.jpeg\" alt=\"\" class=\"wp-image-15623\" style=\"width:1450px;height:auto\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><em>See: Gold (XAU\/USD) is in a strong uptrend, reaching near 2738.56 with bullish momentum supported by a rising MACD, indicating sustained upward movement on the <a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\">VT Markets app<\/a>.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Election Uncertainty Boosts Gold&#8217;s Safe-Haven Appeal<\/strong><\/h2>\n\n\n\n<p>The outcome of the U.S. presidential election, with Democratic candidate Kamala Harris and Republican incumbent Donald Trump neck-and-neck in opinion polls, could strongly impact gold\u2019s movement. <\/p>\n\n\n\n<p>Historically, gold prices often rise during political uncertainty, as the metal is perceived as a stable store of value. With the election outcome unclear, market participants are expected to seek refuge in gold, anticipating a volatile response from equity markets.<\/p>\n\n\n\n<p>This week, traders will also closely monitor the Federal Reserve\u2019s rate decision. Current market pricing shows a 98% likelihood of a quarter-basis-point cut, as indicated by the CME FedWatch tool. <\/p>\n\n\n\n<p>In a low-interest-rate environment, gold often sees increased demand since it becomes more competitive against yield-bearing assets. <\/p>\n\n\n\n<p>Statements from Fed Chair Powell and other officials could further clarify the Fed\u2019s policy outlook, influencing gold\u2019s appeal as an investment.<\/p>\n\n\n\n<p><strong>See also: <a href=\"https:\/\/www.vglobaltrader.com\/blog\/education\/how-to-manage-market-volatility-in-the-us-elections\/\">How to Manage Market Volatility in the US Elections<\/a><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Weak Job Growth Boosts Fed Rate Cut Expectations and Gold Appeal<\/strong><\/h2>\n\n\n\n<p>Friday\u2019s U.S. jobs report revealed nearly stagnant employment growth in October, with disruptions from aerospace strikes and weather conditions curbing manufacturing jobs and payroll data. <\/p>\n\n\n\n<p>This labour data reinforces expectations for additional Fed rate cuts, which would lower borrowing costs and further boost gold\u2019s safe-haven allure.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Despite October being a difficult month for many, including severe weather\/two hurricanes, the unemployment rate remained low at 4.1%, with job gains in \ud83c\udfe5 health care (+52K) and \ud83d\udcbc government (+40K). Read the latest <a href=\"https:\/\/twitter.com\/BLS_gov?ref_src=twsrc%5Etfw\">@BLS_gov<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/JobsReport?src=hash&amp;ref_src=twsrc%5Etfw\">#JobsReport<\/a> at <a href=\"https:\/\/t.co\/YhLEuaacSN\">https:\/\/t.co\/YhLEuaacSN<\/a>. <a href=\"https:\/\/t.co\/HAn1MWc5ra\">pic.twitter.com\/HAn1MWc5ra<\/a><\/p>&mdash; U.S. Department of Labor (@USDOL) <a href=\"https:\/\/twitter.com\/USDOL\/status\/1852369902356545861?ref_src=twsrc%5Etfw\">November 1, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>On the physical side, gold demand in India rose last week due to festival buying, though volumes remained subdued due to high prices. Meanwhile, SPDR Gold Trust, the largest gold-backed ETF, reported a 0.35% dip in holdings to 888.63 tonnes, hinting at some profit-taking among institutional investors.<\/p>\n\n\n\n<p>In other precious metals, spot silver rose 0.4% to $32.54 per ounce, platinum edged down by 0.1% to $991.72, and palladium rose nearly 1% to $1,108.36. These metals, though generally influenced by economic indicators, may also experience heightened volatility as traders evaluate election and Fed developments.<\/p>\n\n\n\n<p><strong>Start trading now \u2014 click <\/strong><a href=\"https:\/\/www.vglobaltrader.com\/trade-now\/?utm_campaign=account_c&amp;utm_source=dma&amp;utm_medium=website\"><strong>here<\/strong><\/a><strong> to create your live VT Markets account.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices held steady Monday as markets brace for a key week with the U.S. presidential election and potential Fed rate cuts. &#8211; vtmarkets.com <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[41],"tags":[9,52],"class_list":["post-15622","post","type-post","status-publish","format-standard","hentry","category-analysis","tag-gold","tag-precious-metals"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vglobaltrader.com\/kur\/wp-json\/wp\/v2\/posts\/15622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vglobaltrader.com\/kur\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vglobaltrader.com\/kur\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vglobaltrader.com\/kur\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vglobaltrader.com\/kur\/wp-json\/wp\/v2\/comments?post=15622"}],"version-history":[{"count":0,"href":"https:\/\/www.vglobaltrader.com\/kur\/wp-json\/wp\/v2\/posts\/15622\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vglobaltrader.com\/kur\/wp-json\/wp\/v2\/media?parent=15622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vglobaltrader.com\/kur\/wp-json\/wp\/v2\/categories?post=15622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vglobaltrader.com\/kur\/wp-json\/wp\/v2\/tags?post=15622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}