- The political crisis in the US and rising geopolitical tensions are supporting gold prices.
- Prediction market Kalshi suggests the government shutdown will last around 15 days.
- BofA Global Research has shifted its forecast for a Fed rate cut from December this year to October.
- The political crisis in the US and rising geopolitical tensions are supporting gold prices.
- Prediction market Kalshi suggests the government shutdown will last around 15 days.
- BofA Global Research has shifted its forecast for a Fed rate cut from December this year to October.
Gold is gaining over 0.5% while the US dollar weakens. Expectations for Federal Reserve rate cuts are rising amid a weakening labour market and the absence of NFP data, caused by furloughed government staff at the BLS.
- Anticipation that the Fed may ‘not want to risk’ delaying a lifeline for the labour market after weak ADP figures is boosting demand for safe havens, weighing on the dollar.
- BofA Global Research has shifted its forecast for a Fed rate cut from December this year to October.
- Prediction market Kalshi suggests the government shutdown will last around 15 days.
As a result, gold continues its strong rally, approaching $3,900 per ounce. The RSI on the daily chart has surpassed 80, aligning with several previous local peaks in the metal’s price.
Source: xStation5
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