According to Jinshi, gold prices rose slightly in early Asian trading. Tickmill analyst Joseph Dahrieh said that gold prices are still close to historical highs, driven by a weak dollar and rising expectations of a sharp interest rate cut by the Federal Reserve.
Dahrieh pointed out that recent U.S. job market data showed an economic slowdown, which increased the possibility of a 50 basis point rate cut.
In addition, rising political uncertainty ahead of the US election in November has also increased gold's appeal as a safe-haven asset.
