Gold price (XAU/USD) retains its bullish bias through the first half of the European session on Monday and touches a fresh all-time high, around the $2,896-$2,897 region in the last hour.
Concerns about the potential economic fallout from US President Donald Trump's tariffs and escalating US-China trade tensions continue to boost demand for the safe-haven bullion.
Moreover, concerns that Trump's protectionist policies would reignite inflation in the US turn out to be another factor that benefits the precious metal's status as a hedge against rising prices.
Meanwhile, the US Dollar (USD) attracts some follow-through buyers amid bets that the Federal Reserve (Fed) would stick to its hawkish stance amid a still resilient US labor market and inflationary concerns. This, however, does little to dent demand for the non-yielding Gold price or hinder the strong intraday positive move.
That said, overbought conditions on the daily chart might hold back traders from placing fresh bullish bets around the XAU/USD. Nevertheless, the fundamental backdrop suggests that the path of least resistance for the commodity is to the upside.
Source: FXStreet
Gold prices held above the $4,000 level on Thursday (October 9th), as investors assessed the Israel-Hamas ceasefire agreement, while broader geopolitical and economic uncertainty and expectations of a...
Gold fell slightly after breaking its all-time record above $4,000/oz. At the start of Thursday's Asian session, prices fell ±0.7% to around $4,015 after rising 1.4% the previous day. Technical indica...
Gold (XAU/USD) marks another milestone on Wednesday, smashing through the $4,000 level for the first time as investors flock to the precious metal amid global economic and political uncertainty, coupl...
Gold surged above $4,000 an ounce for the first time on Wednesday (October 8th) as investors flocked to the safe haven asset's historic rally to protect themselves from global economic and geopolitica...
Gold reapproached the psychological $4,000/oz level on Wednesday (October 8th), extending the safe-haven rally. Spot prices briefly touched an intraday record around $3.99,000, while the most-active D...
The US dollar strengthened on Thursday (October 9th), continuing its gains this week, driven by a weaker euro due to the political crisis in Paris and a weaker yen amid a change in the ruling party leadership in Japan. This week's markets were...
Gold prices held above the $4,000 level on Thursday (October 9th), as investors assessed the Israel-Hamas ceasefire agreement, while broader geopolitical and economic uncertainty and expectations of a US interest rate cut maintained bullish...
European stocks held steady on Thursday after hitting new records the previous day, as investors awaited the latest news on the French political crisis. The Stoxx Europe 600 was virtually flat at 8:15 a.m. in London, while Germany's DAX edged up to...
Euro Area Stock MarketEuropean stocks closed mostly lower on Monday as fresh political turmoil in France rekindled concerns of fiscal instability...
The S&P 500 and Nasdaq Composite closed at record highs on Monday, spurred by optimism about increased mergers and acquisitions activity after...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for...
Asia-Pacific markets traded mixed Wednesday, breaking ranks from Wall Street losses, after the World Bank raised the region's growth forecast...