Gold Little Changed as Traders Eye Outlook for Fed Rates

Group 1 - Gold prices have steadied as traders assess comments from Federal Reserve officials and data indicating a significant weakening in the US jobs market, which raises the possibility of lower interest rates [1][3] - US companies have reported the highest number of job cuts for any October in over 20 years, according to Challenger, Gray & Christmas Inc, contributing to a weaker dollar [2][4] - The current economic conditions are difficult to evaluate due to the longest government shutdown in US history, which has delayed key official data [4] Group 2 - Gold is on track for its best annual performance since 1979, with prices supported by US rate cuts, inflows into bullion-backed ETFs, and increased central bank purchases [5] - Economists at Macquarie Group predict a decline in gold prices over the coming year after a 50% year-to-date rally, citing factors such as rebounding global growth and easing tensions between the US and China [6] - Macquarie suggests that any decline in gold prices will be slower than previous peaks, with prices expected to remain above $2,000 an ounce throughout Donald Trump's presidency, although geopolitical tensions could lead to further rallies [7]