19/11/2025 Daily Reports
Gold Shines Ahead of Key Fed Minutes
- Bullion’s Bounce: Gold prices rose for a second day, hitting $\approx\$4,100$ an ounce, continuing its strong momentum despite a pullback from last month’s record high.
- The 2026 Outlook: Investors are viewing gold as a highly-favored asset for the coming year! A Bank of America survey ranks bullion to deliver the second-best returns next year, only behind the Japanese Yen.
- Central Bank Support: The precious metal has surged $\approx$55% this year, supported by elevated central-bank buying and its role as a key hedge against risk
- Fed Focus: All eyes are on the minutes from the Oct. 28-29 FOMC meeting (out later today) for insights into future monetary policy, including a potential shift to looser policy and balance sheet growth.
- Rate Cut Hopes Damped: Recent comments from Fed officials and the fallout from the US government shutdown have made the outlook less certain. Interest-rate swaps now show only a 50-50 chance of a December rate cut.
- Nvidia & Volatility: The market is also bracing for the Nvidia Corp. (NVDA) earnings report, which will test investor comfort with the high valuations of AI-linked stocks.
- What’s Next? The fact that gold is holding strong and even edging up—despite general equity weakness and a drop in rate-cut certainty—really underscores its role as a strategic asset. The projected strong returns for 2026 suggest that long-term investors and central banks are actively building positions, seeing the current price as a solid foundation for future gains, regardless of short-term volatility. The FOMC minutes and tomorrow’s jobs report will be critical.
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