GoldWorldWide @GoldWorldWide: "Gold gains as traders bet..."

Smart Portfolio

Gold gains as traders bet delayed U.S. data will strengthen rate cut outlook 👉 $GOLD prices hit a near three-week high on Tuesday, bolstered by expectations that a potential end to the U.S. government shutdown and resumption of economic data could set the stage for the Federal Reserve to trim interest rates next month. 👉 Gold, traditionally considered a safe haven, also tends to benefit in low-interest rate environments as it is a non-yielding asset. 👉 "Traders believe (data) will show some weakening economic numbers and that would prompt the Fed to cut interest rates in December... that is probably encouraging the gold and silver market bulls today," said Jim Wyckoff, senior analyst at Kitco Metals. 👉 The U.S. Senate on Monday approved a compromise that would end the longest government shutdown on record. The shutdown has triggered a data blackout, leaving policymakers and markets without key indicators on jobs and inflation. 👉 The central bank trimmed rates at its latest meeting, but Chair Jerome Powell stressed that another cut this year is far from certain. Markets see a 64% chance of a rate cut in December, CME's FedWatch Tool showed. 👉 Data last week showed the U.S. economy shed jobs in October, while consumer sentiment slumped to its lowest level in three and a half years in early November. 👉 Meanwhile, Fed Governor Stephen Miran on Monday suggested that a 50 basis-point cut might be appropriate for December, given softening labor market and falling inflation. 👉 Gold demand this year and next is expected to reach its strongest level since 2011, UBS said in a note. 👉 "Any significant rise in political and financial market risks could push gold toward our upside target of USD 4,700/oz," they added. Read more ❓ www.reuters.com/world/india/gold-hits-near-3-week-peak-rate-cut-bets-end-us-shutdown-2025-11-11/ ✨ eToro’s @GoldWorldWide Smart Portfolio offers investors exposure to some of the world’s largest companies active in the mining and production of gold, as well as related ETFs based on the gold industry. Some of the assets invested in this portfolio include $AEM (Agnico Eagle Mines Ltd) , $HL (Hecla Mining Company) , $KGC (Kinross Gold Corp) , $EGO (Eldorado Gold Corp) , $GFI (Gold Fields Ltd-ADR) , $GOLD.BARRICK and $WGLD.L (WisdomTree Core Physical Gold) . The minimum investment amount for the @GoldWorldWide Smart Portfolio is $500. Past performance is not an indication of future results.