Analyst: Gold Price Depends on Rate Cut Outlook and Trade Situation

BlockBeats News, October 16th: The international spot gold price hit a record high for the fourth consecutive trading day on Thursday, driven by escalating trade tensions and the U.S. government shutdown, prompting investors to flock to this safe-haven asset. At the same time, market bets on interest rate cuts further fueled the rally. The spot gold price briefly touched a record high of $4256.21 during the trading session. OANDA analyst Zain Vawda stated: "The trajectory of gold will depend on the outlook for interest rate cuts in 2026 and the development of the trade situation, with the latter potentially becoming a catalyst for gold to break through $5000 per ounce." Vawda pointed out that a short-term pullback in gold may be temporary, as bullish investors often use pullbacks to re-enter the market. (Oriental Wealth)