Fresh alltime high for gold likely by yearend, analyst says
Platinum market to be undersupplied in 2025 UBS

Oct 15 Reuters Gold prices held steady on Tuesday as the U.S. dollar remained near twomonth highs, with markets caught between profittaking and prospects for further rate cuts by the Federal Reserve.

Spot gold was steady at 2,652.72 per ounce at 1108 GMT while U.S. gold futures nudged up 0.1 to 2,669.20.

We39;ve got a U.S. dollar near twomonth highs, higher Treasury yields and also the overwhelming temptation of profit taking as we go towards November after gold39;s nearly 30 gain so far this year, so in short gold39;s got some pretty fierce headwinds at the moment, independent analyst Ross Norman said. USD

Gold prices hit a record high of 2,685.42 last month, but shed some of those gains as the dollar hovered near a more than twomonth peak reached in the previous session, making bullion more expensive for other currency holders.

Further rate cuts I think will continue to support gold and we39;ll probably see a fresh alltime high this side of the year end, Norman said.

Currently traders see about an 87 chance of a 25basispoint cut in November, according to the CME FedWatch tool. Nonyielding gold thrives in a lower interest rate environment.

Fed Governor Christopher Waller called for more caution on rate cuts ahead but Fed Bank of Minneapolis President Neel Kashkari said more rate reductions are likely as the Fed39;s 2 inflation target looms in sight….