Gold stalls as buoyant US dollar keeps gains in check
Fresh all-time high for gold likely by year-end, analyst says
Platinum market to be under-supplied in 2025 -UBS
Updates prices as of 1108 GMT
By Rahul Paswan
Oct 15 (Reuters) -Gold prices held steady on Tuesday as the U.S. dollar remained near two-month highs, with markets caught between profit-taking and prospects for further rate cuts by the Federal Reserve.
Spot gold XAU= was steady at $2,652.72 per ounce at 1108 GMT while U.S. gold futures GCcv1 nudged up 0.1% to $2,669.20.
"We've got a U.S. dollar near two-month highs, higher Treasury yields and also the overwhelming temptation of profit taking as we go towards November after gold's nearly 30% gain so far this year, so in short gold's got some pretty fierce headwinds at the moment," independent analyst Ross Norman said. [USD/ US/
Gold prices hit a record high of $2,685.42 last month, but shed some of those gains as the dollar .DXY hovered near a more than two-month peak reached in the previous session, making bullion more expensive for other currency holders. USD/US/
"Further rate cuts I think will continue to support gold and we'll probably see a fresh all-time high this side of the year end," Norman said.
Currently traders see about an 87% chance of a 25-basis-point cut in November, according to the CME FedWatch tool. Non-yielding gold thrives in a lower interest rate environment.
Fed Governor Christopher Waller called for "more caution" on rate cuts ahead but Fed Bank of Minneapolis President Neel Kashkari said more rate reductions are likely as the Fed's 2% inflation target looms in sight.
Market participants are also watching out for U.S. retail sales, industrial production data and weekly jobless claims this week.
Spot silver XAG= eased 0.1% to $31.14 per ounce. Platinum XPT= fell 1.2% to $980.78 and palladium XPD= was down 1.8% at $1,011.77.
"Scrap supply (for platinum) has disappointed in recent years, but we see room for a recovery next year. We still expect the platinum market to be under-supplied in 2025," UBS analysts said in an note.
Spot gold price in USD per oz https://reut.rs/4f3VsT5
Reporting by Rahul Paswan in Bengaluru; editing by David Evans and Kirsten Donovan
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
