Gold price pulls back from multi-month peak, downside potential seems limited
Gold price rallied to a three-month peak on Monday and settled at an all-time high, above the $2,100 mark amid bets that the Fed will start cutting interest rates in June. Apart from this, a further escalation of geopolitical tensions in the Middle East turns out to be another factor underpinning the precious metal.
Gold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. Mostly quoted in US Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable safe-haven. It’s traded constantly based on the intra-day spot rate. Improve your technical analysis of live gold prices with the real-time XAU/USD chart, and read our latest gold news, expert analysis and gold price forecast. Gold Price: Current Pricing, Prices Chart & Rate Graph