INSUBCONTINENT EXCLUSIVE:
The precious metals market experienced a minor setback on Monday, November 2, 2024
Gold prices closed with a slight decrease as investors cautiously awaited two major events.These events are expected to significantly impact
the market in the coming days
decision, set to be announced on Thursday
Both events have created an atmosphere of anticipation among traders and investors.December gold futures on the Comex division of the New
York Mercantile Exchange closed at $2,746.20 per troy ounce
The current political landscape in the United States has contributed to market uncertainty.Gold Prices Dip Slightly as Markets Await United
States Election and Fed Decision
(Photo Internet reproduction)Recent polls indicate a tight race between Vice President Kamala Harris and former President Donald Trump
This close contest has fueled demand for gold as a safe-haven asset in recent days.Gold Market OutlookANZ Research analysts suggest that the
expected 25 basis point interest rate cut by the Federal Reserve could make gold more attractive to investors.However, they caution that a
pause or shallow rate cuts might prompt profit-taking after the recent price surge
elections.They suggest that a post-election gold sell-off is possible, especially if Trump wins or if Republicans gain significant ground in
Congress.The potential for corporate tax cuts and supportive actions under a Republican-led government could influence gold prices.These
Investors are closely monitoring these developments as they position their portfolios.As the week unfolds, market participants will be
keenly observing how these events impact gold prices
