TechFlow, October 27 — As signs of easing trade tensions dampened demand for safe-haven assets, gold prices declined. Spot gold dropped to touch $4,000 per ounce. Despite the pullback, gold prices are still up more than 55% year-to-date. Soojin Kim, analyst at MUFG, said: "Attention is now turning to a packed central bank calendar, with interest rate decisions due from the Federal Reserve, European Central Bank, and Bank of Japan. Further monetary easing by these central banks could provide fresh support for non-interest-bearing assets like gold." The market widely expects the Fed to announce its second rate cut of the year on Wednesday, following last Friday's inflation data that came in below expectations. (GoldLive)
Spot gold dropped to touch $4,000 per ounce, the first time since October 10, with a daily decline of 2.5%.
