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The demand for safe haven metals like gold increased also on the back of worries about escalating geopolitical unrest in the Middle East, among other factors. ....
The diverse reading conveyed that the Federal Reserve might not immediately resort to more rate hikes to bring inflation to its long-standing target of 2% per annum from the 3% levels it currently is at. It s not surprising that the November rate hike odds are down to 36%. ....
On a broader spectrum, the outlook for gold remains positive as the interest rate hike cycle is expected to come to a pause if not reverse in three months. ....
Experts said, traditionally, gold has been a preferred investment during auspicious occasions. But with significant investor interest, Gold ETFs also have become an attractive investment avenue. ....