Gold Steady Near Record High Before Data That May Give Fed Clues

From bnnbloomberg.ca

Gold steadied near a record, with upcoming US data expected to give clues on whether the Federal Reserve’s 50-basis-point rate reduction last week will be the first in a series of aggressive cuts. Bullion traded near $2,620 an ounce after hitting an all-time high of $2,625.77 an ounce on Friday. A batch of economic data — including the US personal consumption expenditures gauge and jobless claims — are scheduled to be released later in the week. On Friday, Fed Governor Christopher Waller said he’d likely back quarter-point cuts at each of the next two central bank policy meetings in November and December, ... (full story)