Top investment bank: Gold is going to $3,000 [Video]

EUR/USD is still on the back foot on Monday, trading below the 1.1600 support as we get closer to the closing bell in Europe. In the meantime, the US Dollar is firming up again with risk appetite looking shaky, and markets are steadily trimming their expectations for a December Fed rate cut. All of that is keeping the pair’s recovery attempts pretty shallow.

GBP/USD is now losing some ground, adding to Friday’s pullback near 1.3160 against the backdrop of the marked bounce in the Greenback. Meanwhile, the overall sentiment surrounding the British Pound remains cautious as UK fiscal worries continue to linger in the background.

Gold is going nowhere fast on Monday, shuttling between modest gains and slight losses while hovering just above $4,000 an ounce. Recent remarks from key FOMC officials didn’t show much appetite for further rate cuts, prompting traders to scale back expectations for another Fed move, and leaving the precious metal without a clear driver for now.

Bitcoin offers subtle signs of recovery, trading above $95,000 at the time of writing on Monday. Altcoins, including Ethereu and Ripple, are making recovery attempts, following in BTC's footsteps, with ETH hovering below $3,200 and XRP trading around $2.27.

At the start of a new week, the market mood has calmed. US stock futures are pointing to small gains later on Monday, after a sharp sell off on Friday, European stock index futures are mostly flat at the start of the week.

Chainlink trades above $14.00 on Monday, as the cryptocurrency market generally recovers from last week’s volatility. LINK faces declining retail interest amid a weak derivatives market characterised by suppressed Open Interest.