Gold Slides Below $1,500 Ahead of September’s FOMC Meeting Minutes Release

Gold prices are trading steady after sliding below the $1,500 level during the previous trading session, ahead of the FOMC minutes and the US-China trade talks scheduled for later this week. At the time of writing, GOLD is trading at a little above $1,491.

The FOMC minutes from the Fed’s September meeting are due tomorrow, and could drop hints about any upcoming rate cuts being planned by the US central bank. After a slew of disappointing economic data releases from the previous week, markets are widely anticipating that the Fed could cut rates once more before the end of the year to stem any possible weakness or recession in the US economy.

In case the FOMC minutes reveal a more dovish outlook, gold could turn bullish after the minutes are released. For now, gold is trading cautiously lower as investor trim their bullish bets in the precious metal ahead of the meeting minutes coming out.

To round out the week, the US and China will start their high level negotiations towards a trade deal in Washington on Thursday and Friday. However, there is little hope for a trade deal to be arrived at so soon as China appears reluctant to agree to a broad trade deal and still has some reservations that need to be addressed.

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ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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