Gold’s recent surge has unfolded without fresh fundamental drivers: real rates have risen, the dollar hasn’t broken new lows, and central bank demand—particularly from BRICS+ and China—has waned.
EUR/GBP trades slightly higher at 0.8690, up 0.12% for the day on Monday at the time of writing, as investors remain cautious amid rising fiscal uncertainty in the United Kingdom (UK).
GDP growth eased to 4.8% yoy in Q3 but it would still put China’s economy on track to meet the 5% official target. Growth was mainly supported by strong exports as household consumption slowed and fixed investment faltered, Commerzbank's economist Tommy Wu reports.