Gold News: Price Holds Key Support as 87% Fed Cut Odds Fuel Bullish Setup

Group 1 - The market is currently pricing an 87% chance of a December rate cut by the Federal Reserve, a significant increase from 30% two weeks ago, influenced by weaker jobs data and dovish comments from Fed Governor Christopher Waller [2] - Treasury yields are declining, with the 10-year yield at 4.063% and the 2-year yield at 3.49%, which supports non-yielding assets like gold due to lower opportunity costs [3] - The upcoming economic data releases, including ADP employment, ISM Services, and delayed September PCE, will determine if the Fed's dovish stance is confirmed or challenged, impacting gold prices [4] Group 2 - The dollar is experiencing its ninth consecutive daily loss, down 0.15% to 99.10 on the index, marking a nearly 9% decline for the year, primarily due to changing rate expectations [5] - The decline in the dollar is further influenced by the euro gaining strength on potential Ukraine peace deal hopes and the yen firming due to discussions of a Bank of Japan rate hike [5]