Investorideas (www.investorideas.com
newswire) a go-to platform for big investing ideas, including gold and
silver stocks issues market commentary from Konstantinos Chrysikos,
Head of Customer Relationship Management at Kudotrade.
Gold traded at an all-time high on Monday after last week’s
gains as weak US jobs data reinforced expectations of monetary policy
easing. Friday’s nonfarm payrolls showed fewer jobs added than
anticipated and unemployment at its highest level since 2021,
reinforcing the case for a September rate cut. Traders fully expect a
25-basis-point move in September and additional rate cuts, keeping the
policy backdrop highly supportive for the bullion.
Persistent political interference in the Fed has heightened concerns
over central bank independence, dragging investor confidence down and
benefiting safe-haven assets like gold. Attention now turns to
Thursday’s inflation report, which could determine the size of
the Fed’s next step.
ETF flows added further confirmation of investor appetite. Gold-backed
ETFs registered net inflows of nearly 35 tonnes in the week to August
29, the largest since April, driven by allocations in North America
and Europe. At the same time, the People’s Bank of China
expanded its holdings for a 10th consecutive month, underscoring
strong institutional demand.
At the same time, geopolitical tensions continued to underpin
safe-haven demand. Russia launched its largest aerial bombardment of
Ukraine since the start of the conflict, while Israeli strikes across
Gaza continued.
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