Monday, September 8, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Lifestyle

Gold steadies as investors brace for US election and potential rate cuts

by Mark Darwin
in Lifestyle
Gold steadies as investors brace for US election and potential rate cuts
Share on FacebookShare on Twitter


GOLD prices held steady on Monday (Nov 4), as investors prepared for a crucial week for the global economy, marked by the US presidential election and the likelihood of further interest rate cuts.

Spot gold edged up by 0.1 per cent to US$2,738.29 per ounce, as at 0012 GMT. Bullion hit a record high of US$2,790.15 on Thursday.

US gold futures were flat at US$2,747.50.

With Tuesday’s US presidential election looming, opinion polls reveal a tight contest between Democratic candidate Kamala Harris and Republican Donald Trump, which could significantly influence bullion prices.

This week, market participants will pay close attention to the Federal Reserve’s interest rate cut decision and remarks from Fed chair Powell and other Fed officials.

Currently, traders anticipate a 98 per cent chance of a quarter-basis-point Fed rate cut this week, the CME FedWatch tool showed.

BT in your inbox

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Gold is considered a safe investment during economic and geopolitical turmoil due to its ability to store value; it thrives in a low interest rate environment.

Data on Friday showed that US job growth nearly stalled in October as strikes in the aerospace industry reduced manufacturing jobs and hurricanes shortened the payroll collection period.

On the physical front, gold demand in India jumped last week amid festival purchases, although volumes were lower than usual due to record-high prices.

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.35 per cent to 888.63 tonnes on Friday.

Spot silver rose 0.4 per cent to US$32.5443 per ounce, platinum edged down by 0.1 per cent to US$991.72 and palladium added nearly 1 per cent to US$1,108.36. REUTERS

Tags: BraceCutselectionGoldInvestorsPotentialRatesteadies
Mark Darwin

Mark Darwin

Next Post
US dollar falls, bond futures gain as some Trump trades are pared

US dollar falls, bond futures gain as some Trump trades are pared

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2025 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In