09.10.202502:04:43UTC+00Gold Pauses Record Rally

Gold prices eased to approximately $4,010 per ounce on Thursday, momentarily halting their record-breaking surge. This was primarily due to investors likely cashing in on profits and emerging indications of reduced geopolitical tensions. President Donald Trump announced the initial phase of a peace plan between Israel and Hamas, signaling a possible end to the two-year conflict and the release of hostages. This agreement was confirmed by Israeli officials, Hamas representatives, and the mediator, Qatar. Despite this brief pause, the bullish momentum for gold remains robust, bolstered by ongoing economic uncertainties and a dovish stance from the Federal Reserve. The current US government shutdown, now entering its second week, has delayed economic data releases and poses the threat of public-sector layoffs. Concurrently, private sector reports revealed a contraction in ADP payrolls and ISM PMI employment indices. Minutes from the Federal Open Market Committee (FOMC) suggested further interest rate cuts due to vulnerabilities in the labor market, while inflation concerns persist, enhancing the appeal of precious metals as opposed to assets tied to the dollar.