Gold Advances as Traders Bet on December Rate Cut, Await US Data

Gold gained as traders bet that the Federal Reserve will deliver an interest-rate cut next month amid signs of a weak labor market.

Federal Reserve Governor Christopher Waller fueled optimism on Monday after indicating support for a rate cut next month. New York Fed President John Williams had a similar impact on the market last Friday after he said a near-term cut remains a possibility. While the central bank’s December meeting is the next big milestone for markets, investors are relying on dated economic data due to delays caused by the US government shutdown.