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‘Multiple lifelines’ to boost gold higher this week - FXTM

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Gold will be making more gains this week, writes FXTM senior research analyst Lukman Otunuga. “Gold bulls have been thrown multiple lifelines in the form of Dollar weakness, disappointing US economic data and renewed fears over slowing global growth,” Otunuga says. If risk aversion continues to dominate the marketplace, gold will climb back above $1,500 an ounce, the analyst adds. “The precious metal is positioned to push higher this week if risk aversion remains a dominant market theme. Looking at the technical picture, an intraday breakout above $1485 should inspire an incline towards the psychological $1500 level.”

By Anna Golubova of Kitco News;


U.S. jobs report could ‘seal the deal’ on future Fed rate cuts: TD Securities

Wednesday October 2, 2019 09:29

Weak U.S. manufacturing numbers from Tuesday do not guarantee a rate cut in October, but any surprise in U.S. employment figures this Friday could lock the Fed into a decision, according to TD Securities. “While the weak factory gauge lends strength to our view that the Fed is still set to cut rates in October, it has likely not locked in the interest rate reduction just yet … That being said, this week's jobs report could help to seal the deal, but a particularly weak print could also see the Fed committee shift its narrative on the prospect of future cuts,” strategists at TD Securities write.

By Anna Golubova of Kitco News;

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