Gold Bullion traded near $3,640 an ounce, after gaining for four consecutive weeks as traders geared up for an anticipated easing of the US Federal Reserve’s monetary policy and looked for clues on further rate cuts this year.
Traders see a quarter-point cut this week amid signs of labor market weakness, and some potential for reductions extending into next year.
That expectation has driven Treasury yields to the lowest in months, weakened the greenback and supported gold. A weaker dollar makes Gold more affordable.
Bullion has rallied nearly 40% this year, with persistent uncertainty over geopolitics and Trump’s tariff agenda, and concerted central bank buying providing support.
Gold was down 0.2% to $3,635.66 an ounce as of 8:35 a.m. Singapore time.
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