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Finance

Gold rebounds after two-week slide as Fed rate outlook shifts

Gold rebounded after two weeks of declines as markets increasingly price in the likelihood that the U.S. Federal Reserve will keep rates unchanged this month. Spot gold moved toward $4,180 an ounce. The shift followed remarks by Fed Chair Kevin Warsh, which led investors to cut expectations of a near-term hike. Traders are now watching the next FOMC meeting and the U.S. PCE inflation report. Other precious metals also gained.

Crypto

Bitcoin warned could retest $80,000 level as tech earnings and rates come into focus

Bitcoin started the third week of October trading around $82,000, with forecasts that it could retest support at $80,000. Cointelegraph said bitcoin ended the week below a key support zone as U.S. stocks attempted to recover losses. Attention this week shifts to corporate earnings, including results from SpaceX, Tesla and Meta. Investors are also watching the Federal Reserve’s Oct. 28 rate decision and inflation data.

Crypto

Bitcoin stays rangebound as Fed hike fears ease, focus turns to U.S. data

Bitcoin may continue trading in a range with no clear direction even as concerns about further U.S. rate hikes have eased, a report said. CoinShares said stronger-than-expected U.S. inflation and consumption data briefly lifted expectations of another hike, but those odds fell after Fed Chair Kevin Warsh did not signal additional tightening. Bitcoin has already come under pressure, and crypto investment products saw outflows last week. Investors are focused on upcoming U.S. data including PCE inflation, the jobs report and CPI.