Overview
- Spot prices hovered around $4,080–$4,100 on Monday after a more than 2% slide Friday, with a modest rebound in early Asian trading.
- Market odds for a December Fed rate cut have been trimmed to roughly 40%–46% as policymakers signal caution and the dollar holds firm.
- Traders are focused on the delayed US nonfarm payrolls report, the Fed’s meeting minutes, and Chair Jerome Powell’s remarks as the next catalysts.
- Despite the pullback from October records, gold is still up about 55% year to date and on pace for its strongest annual performance since 1979.
- Structural support persists from central‑bank purchases and sustained ETF interest, with year‑to‑date ETF holdings reported up about 17% even as SPDR Gold Trust noted a small daily outflow.