Gold set for fourth consecutive weekly profit as Fed Cut bets and geopolitical risks the question

Gold set for fourth consecutive weekly profit as Fed Cut bets and geopolitical risks the question






Investorideas.com (www.investorideas.com newswire) A go-to-to-platform for large investment ideas, including Gold and Silver Stocks Issues Market Commentary by Frank Walbaum Market Analyst at Naga.

Gold kept in the vicinity of record highs on Friday, on schedule for a fourth consecutive weekly progress as expectations of the Federal Reserve Relaxation and persistent geopolitical risks -reinforced safe port flows.

Recent American data has painted a mixed image. Consumer prices rose by 0.4%in August, the largest increase of seven months, but producer prices fell unexpectedly, while unemployed claims climbed to their highest level in four years. Together with last week’s weak wage report, the data gave up a mitigating labor market, giving markets trust in at least a 25-base-point reduction. A smaller chance of a movement of 50 basic point is also priced.

Geopolitical tensions added to the bullish sentiment. The interception of Russian drones about the Polish air room brought in the concerns of investors. The tensions continued to mount in the middle east. However, the market can be confronted in the short term after its strong climb with some price correction risks. In the meantime, investors can continue to follow new data releases and the meeting of the Federal Reserve next week, because they can influence the direction of the market.




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