XRP stayed in positive territory even as digital asset funds posted $454 million in weekly outflows. This happened as investors pulled back from Bitcoin and Ethereum while favoring select altcoins amid rising concerns over delayed US rate cuts. XRP Attracts Inflows as Market Turns Defensive XRP emerged as one of the few bright spots in a difficult week for crypto funds. While the broader market saw heavy withdrawals, XRP recorded inflows of $45.8 million, according to the latest CoinShares data. This ca ...

Core Insights - Gold prices have steadied around $4,080 per ounce as traders reassess the likelihood of a US Federal Reserve interest rate cut, which is currently seen as less probable until more economic data is available [1][2][4] Market Dynamics - Gold has experienced a pullback of over 2% in the previous session, with traders losing confidence in a potential December rate cut as Federal Reserve officials show reluctance to lower borrowing costs [2][4] - Interest rate swaps indicate a less than 50% chance of a rate cut in December, a significant drop from the previous month when a quarter-point reduction was almost fully priced in [4] Economic Context - The prolonged US government shutdown has delayed critical economic data, leading to uncertainty among investors and policymakers regarding the labor market and inflation [4][5] - Analysts note that the recent decline in gold prices is exacerbated by subdued physical demand, particularly in Asia, where Indian dealers are offering significant discounts due to market volatility [5] Performance Metrics - Despite recent fluctuations, gold is up approximately 55% year-to-date and is on track for its best annual performance since 1979, driven by strong central bank purchases and investor interest as a hedge against fiscal uncertainties [6]

Gold Price Outlook - Gold prices are rallying due to expectations of US Federal Reserve rate cuts and increased gold buying from China [5][6] - Spot gold was trading at $4,096 with a daily gain of 2.34%, while MCX Gold December contract was up 2.07% at Rs 123,707 [5] - Analysts recommend buying the dip rather than chasing the rally, with short-term resistance expected around $4,160 [8][9] US Economic Context - The ongoing US government shutdown is expected to end soon, which has boosted risk appetite among investors [5][8] - Federal Reserve officials have differing views on interest rates, with some urging caution on further cuts due to potential inflation pressures [5][7] - The US Dollar Index was at 99.72, up 0.15% for the day, while US yields showed slight increases [5][7] China's Gold Market - China's gold consumption dropped 7.95% year-on-year to 682.73 tons in the January-September period [6] - The People's Bank of China has been buying gold for the 12th consecutive month, with official reserves increasing to 74.09 million ounces [6][7] - Domestic gold ETF holdings in China rose significantly, indicating strong local demand despite the overall consumption decline [7] Market Dynamics - Total known global gold ETF holdings increased to 97.24 million ounces, up 17.36% this year, although they have seen a decline over the past three weeks [7] - COMEX gold eligible inventory is at its lowest level since April, indicating tighter supply conditions [7] - Silver prices also surged, with MCX Silver December contract rising to Rs 153,650, suggesting strong performance in precious metals [8]