PANews reported on October 17th that Tim Watrey, chief market analyst at KCM Trade, stated that the $4,500 price target for gold may be reached sooner than expected, but this will largely depend on how long trade tensions and government shutdown concerns linger in the market. Meanwhile, Federal Reserve Governor Waller, citing concerns about the labor market, has expressed support for another rate cut. Investors expect the Fed to cut rates by 25 basis points at its October meeting and again in December. Watrey also believes that the sudden increase in credit concerns among US regional banks has given traders another reason to buy gold. Driven by geopolitical tensions, aggressive rate cut expectations, central bank gold purchases, de-dollarization, and strong inflows into ETFs, gold has risen by over 65% so far this year.