On Wednesday (October 15th), during the Asian session, gold prices traded around $4,166, driven by expectations of lower US bond yields following Jerome Powell's signal of a 25 bps interest rate cut this month, boosting appetite for assets like gold and lowering US yields, while US-China tensions maintained demand for safe-haven assets.
For gold, structural support remains strong: central bank purchases, ETF inflows, and the need to hedge against policy uncertainty and fiscal deficits. Furthermore, the market is wary of the Section 232 (potential tariffs on crucial minerals) implications. (asd)
At the time of writing, gold prices were at $4,166
Disclaimer: This article is analytical and not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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