Branch2 Intelligence
Gold heads for first weekly rise in five on easing Fed rate hike bets
Key takeaway
Gold heads for first weekly gain in five as softer US jobs data reduces Fed rate hike bets.
- Step 11st-order: Softer US jobs data reduces Fed rate hike expectations, weakening USD and lowering real yields.
- Step 22nd-order: Lower opportunity cost and weaker USD boost gold prices globally.
- Step 33rd-order: UK gold importers face higher input costs; UK gold miners and jewelers with hedging benefit.
Source: IN:Economic Times
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