Gold prices are currently rising on Wednesday (September 10th), driven by growing expectations that the Federal Reserve will cut interest rates at its meeting next week. Weaker-than-expected US economic data, including revised Nonfarm Payrolls and a weakening labor market, further strengthen the argument that the central bank needs to loosen policy to maintain growth. Declining US bond yields are also making gold increasingly attractive as a hedge.
In addition to monetary factors, geopolitical tensions in the Middle East and increasing global uncertainty are also supporting the rise in precious metal prices. Investors tend to turn to gold as a safe haven amidst potentially high market risks. With the combination of expectations of interest rate cuts and boosted geopolitical sentiment, gold prices are expected to remain on a strengthening path in the short term.
Source: Newsmaker.id
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