The Fed's interest rate cut expectations and safe-haven demand boosted gold prices big pump.

Jin10 data October 20 news, Spot gold rose 2% on Monday, mainly supported by market expectations for further rate cuts by the Fed and ongoing safe-haven buying, while investors are closely following the progress of trade conditions and the US inflation data to be released this week. Jeffrey Christian, managing partner of CPM Group, stated: “After last Friday's sharp dumping, political and economic concerns have once again pushed gold prices higher. We expect gold prices to continue rising in the coming weeks and even months, and it would not be surprising if they quickly reach the $4500 mark.” The US federal government shutdown has entered its 20th day, and the Senate failed to break the deadlock for the tenth time last week. The shutdown has led to delays in the release of several key economic data, leaving investors and policymakers in a data vacuum ahead of the Fed's policy meeting next week. The affected US Consumer Price Index data is expected to be released this Friday. Currently, traders expect a 99% probability of a rate cut by the Fed next week, with another cut expected in December.