Gold Wavers on Dimmer Fed Cut Outlook, Jitters Over Tech Stocks

Group 1 - Gold and silver are experiencing pressure from equity-driven risk aversion, with rising volatility leading to the unwinding of leveraged positions [2] - Expectations for a US interest rate cut in December have diminished, with interest-rate swaps indicating less than a 50% likelihood of a cut, impacting market sentiment [2] - Gold has gained over 50% this year and is on track for its best annual performance since 1979, driven by fiscal unease and significant central bank purchases [4] Group 2 - Central banks purchased an estimated 64 tons of gold in September, more than tripling the amount bought in August, with China contributing approximately 15 tons [5] - The legal situation involving Fed Governor Lisa Cook and the Trump administration is being monitored, as it may have implications for monetary policy and market stability [6]