Fed Rate Cut Expectations Boost Metals

From orbex.com

Gold The yellow metal has been higher again this week. Gold posted its second consecutive positive week as of writing. The main driver behind the move is the expectation that the Fed will cut rates again when it meets next week. Since the September FOMC meeting, data has been consistently poor. In particular, the manufacturing reading that we saw for September. While this week, we saw manufacturing rebounding slightly over October, the data was accompanied by a sharp drop in US durable goods. With data remaining weak, the market is now looking for the Fed to ease again in October. This is keeping gold prices ... (full story)