Fed tio cut, asks the gold bulls?
Gold has benefited not only from a weaker dollar. but also as a risk haven in our turbulent environment (Brexit, EU-US trade disputes, US/Chin trade disputes etc) . One catalyst that will fuels its rise further is expectations of a fed rate cut.
Current expecations are 72.9% chance of a cut on October 30. What will fuel that speculation? If the US iSM non-manufacturing print comes in below expectations it will add to the argument of a fed rate cut and weaken the dollar further. Key US session ahead for near term Gold prices.
