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Safe-Haven Gold Touches 2-Week Peak on Trade Tensions, Rate Cut Hopes
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8 Articles
Gold Price Trims Losses but Stays Below $3,400 as Safe-Haven Demand Eases
Gold (XAU/USD) is paring back intraday losses on Friday but remains subdued below the $3,400 mark after briefly touching a two-week high earlier in the day. A modest rebound in the US Dollar (USD), along with improving global risk sentiment, has triggered some profit-taking following gold’s recent upward run. Still, several underlying factors continue to […] The post Gold Price Trims Losses but Stays Below $3,400 as Safe-Haven Demand Eases appea…
Gold rose to a maximum of two weeks on Thursday, because strong U.S. tariffs boosted demand for shelter, while betting on interest rate cuts increased after new employment data. Cash gold gained 0.5%, to $3,384.80 an ounce, and gold futures in the U.S. advanced 0.4%, to $3,446.7."Commercial tension and increased geopolitical tension continue to prop up the market with interest for shelter," said Peter Grant, Senior Metal strategist and Vice Pres…
Future contracts of precious metal for October closed at a height of 0.59%, to US$ 3.425.20 per eleven-threy
Gold Continues to Rise Locally and Globally Amid Escalating Trade Tensions and Growing Rate-Cut Bets
Gold prices recorded notable gains in both local and international markets on Thursday, driven by escalating trade tensions and renewed fears of a global economic slowdown. The rally is supported by a combination of interlinked factors, most notably a weakening U.S. dollar and mounting expectations that the Federal Reserve will cut interest rates at its upcoming meeting.
The precious metal in spot earned 0.3%, at US$3,375.99 an ounce, and futures in the United States GCcv1 advanced 0.5%, to US$3,448.9
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