Analyst: U.S. government shutdown may prompt the Federal Reserve to cut interest rates in December

According to Jin Ten, Peter Cardillo of Spartan Capital Securities stated that gold futures rose as the expected end of the U.S. government shutdown would allow for the normal release of government data. This could make further rate cuts by the Federal Reserve in December possible. He added that the unpublished macro data flow might indicate that inflation remains stubborn and that the labor market is weaker than shown in the ADP report, both of which could prompt the Federal Reserve to cut rates in December, despite their repeated cautious statements.