#GOLD ๐ Global Gold Market Update โ Short Summary
Gold prices rebounded in the global market, rising to around $4,060 per ounce after hitting a one-week low at $3,997. The recovery came as soft US employment data increased market expectations of a potential Federal Reserve rate cut in December, supporting bullish sentiment.
Analysts note that if gold closes below $4,000, the global price could slip back toward the $3,920โ$3,950 support zone. The next two days of key US economic data will play an important role in determining goldโs short-term direction.
In currency markets, the US dollar strengthened, pushing the Japanese yen to a 9-month low, while emerging-market currencies, including Pakistanโs rupee, saw only mild moves.
Overall, global gold remains in a tight consolidation phase, driven by interest-rate expectations and upcoming US macro data.
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