Supported by expectations of interest rate cuts and data clarity, gold stands firm above 4100 USD

Spot gold prices remain above the $4,100 mark due to signs of weakness in the U.S. labor market and Congress nearing the end of the government shutdown. New private sector data shows that U.S. companies laid off an average of 11,250 workers per week in the four weeks ending in late October, reinforcing expectations for further interest rate cuts this year.

Meanwhile, Soojin Kim, an analyst at Mitsubishi UFJ Financial Group, stated, "The government is about to reopen, which is expected to restore access to official economic data, providing clarity for future monetary policy decisions." Supported by central bank purchases and its appeal as a hedge against global uncertainty, the precious metal continues to maintain a 56% increase this year. (Jin Shi)