Lowering inflation is fueling bets that the Federal Reserve will bring interest rates down from their 22-year peak. Dollar fell.
Gold sits comfortably above all three major moving averages. Interest rates, however, may lead to some pain for the precious metal.
The precious metal is enjoying an investor comeback after easing price pressures in the US indicated rate hikes will most likely hit pause.
The shine of gold faded this week as Israel-Hamas tensions took a backseat in global macro. But investors haven’t abandoned the safe-haven search.
The safe-haven metal is seeing increased demand on the escalating tensions in the Middle East. Are gold bugs eyeing a new all-time high?
Gold prices sustained their upward swing for a second straight week, up more than 7% for the period.
Investors flee to safe-haven assets during times of geopolitical uncertainty. Gold is a rare bright spot in such turbulent periods.
The precious metal is living up to its safe-haven characteristics after stunned Israel fights off the worst Hamas attack in decades.
The precious metal is in its seventh straight day of losses and has erased about 13% from its record high around $2,080.
Interest rates aren’t going any lower, that’s for sure. What that means for gold is what traders try to figure out.
The precious metal is looking to snap its downward trend but three major moving averages lurk in the distance.
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