The post XAU/USD edges higher to near $4,050 amid concerns over US economy appeared on BitcoinEthereumNews.com.

Gold price (XAU/USD) trades in positive territory around $4,050 during the early Asian session on Monday. The precious metal edges higher as US private jobs data indicated a weak labor market, supporting the US rate cuts.  US Challenger job data indicated a spike in job cuts, suggesting a possible cooling in US labor market conditions. The Challenger report showed that companies cut over 150,000 jobs in October, marking the biggest reduction for the month in more than 20 years.  Traders ramped up bets on a rate cut following US Challenger jobs data, which weighed on the US Dollar (USD) and lifted the USD-denominated commodity price. Markets now see a nearly 66% possibility of a 25-basis-point (bps) rate cut in December, according to the CME FedWatch tool.  Lower interest rates could reduce the opportunity cost of holding Gold, supporting the non-yielding precious metal. US Consumer Sentiment was near a three-and-a-half-year low, raising concerns over the US economy. The University of Michigan (UoM) revealed on Friday that its Consumer Sentiment Index eased to 50.3 in November, the lowest level since June 2022, from a final reading of 53.6 in October. This figure came in weaker than the expectation of 53.2. On the other hand, signs that the record-breaking US government shutdown may end could undermine safe-haven assets such as gold. Bloomberg reported early Monday that the US government shutdown is nearing an end after a group of centrist Senate Democrats agreed to support a deal to reopen the government and fund some departments and agencies for the next year.  Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning…

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Filed under: News - @ November 10, 2025 2:24 am