Gold Futures Rise Amid U.S. Government Reopening Expectations

According to BlockBeats, Peter Cardillo of Spartan Capital Securities noted that gold futures have increased due to the anticipated end of the U.S. government shutdown, which is expected to resume the normal release of government data. This development could potentially lead to a Federal Reserve interest rate cut in December. Cardillo explained that once the government reopens, the backlog of macroeconomic data might reveal persistent inflation and a weaker labor market than indicated by the ADP report. These factors could prompt the Federal Reserve to consider a rate cut in December, despite their previous cautious statements.