Gold pauses rally on Tuesday
Gold traded little changed around $4,330 per ounce on Tuesday, holding near the record high reached yesterday, as profit-taking emerged and traders awaited fresh market catalysts.
US Treasury Secretary Scott Bessent is scheduled to meet Chinese Vice Premier He Lifeng in Malaysia this week, ahead of high-level talks between President Donald Trump and President Xi Jinping.
Meanwhile, the ongoing US government shutdown continued to weigh on sentiment, though White House economic adviser Kevin Hassett suggested the impasse could be resolved this week.
At the same time, the Federal Reserve is widely expected to cut the federal funds rate by 25 basis points next week, with another reduction likely in December.
So far this year, gold has surged more than 60%, driven by expectations of further Fed easing and sustained safe-haven demand.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
Sign up for free to ask the AI about this article.
Multiples, financials, sentiment and risks in 60 seconds, with live data.