The US dollar weakens and interest rate cut expectations make a strong push, gold recovers the 4000 US dollar mark.

Jin10 data reported on October 28, gold prices recovered some ground on Tuesday, returning above $4,000/oz, as the weakening dollar and expectations of further rate cuts by the Fed outweighed the pressures from signs of thawing international trade tensions. During the early trading session, spot gold peaked at around $4019/oz, after falling more than 3% on Monday to the lowest level since October 10. KCM Trade Chief Market Analyst Tim Waterer stated: “Those buyers waiting on the sidelines for gold are now being tempted to build a position at these price levels. Additionally, we are seeing a softening dollar, which gives gold prices some breathing room.”