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Today market analysis on behalf of Fadi Al Kurdi founder CEO FFA Kings
Gold edged lower on Wednesday as investors took profits after the metal hit a fresh record in the previous session. Losses could remain limited by the continued weakness in the dollar, and as expectations of Federal Reserve easing remained strong.
Traders are fully pricing in a 25-basis-point rate cut, with softer job data reinforcing expectations of three reductions in 2025. While labour market weakness has cemented the dovish view, stronger-than-expected August retail sales highlighted some resilience in consumer spending, tempering the case for aggressive easing. Investors will also closely monitor the Fed’s updated dot plot and Chair Jerome Powell’s press conference for signals on the policy path.
ETF flows added a mixed note. Gold-backed ETFs saw net inflows of nearly 15 tonnes in the week ending September 12; however, they were down compared to the previous two weeks. At the same time, geopolitical tensions showed no signs of easing, with developments in the Middle East and Eastern Europe sustaining safe-haven demand for gold.
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