"Gold Surges as US Data Fuels Speculation of Fed Rate Cut"

Gold prices rose as the US dollar weakened following economic data that increased expectations of a Federal Reserve interest rate cut in March next year. The market anticipates an 83% chance of a rate cut, compared to 79% before the data. Lower interest rates reduce the opportunity cost of holding gold. Silver also gained, while platinum and palladium saw modest increases. The focus now shifts to the US core personal consumption expenditure report.