Gold prices rose to $4,050 per ounce on Monday (November 10), driven by increased demand for safe-haven assets amid political uncertainty in the US. Investors are still awaiting a final agreement to end the government shutdown, which has lasted more than 40 days. The weakness of the US dollar and concerns about an economic slowdown have also added to gold's appeal as a hedge.
Analysts believe that if a shutdown agreement is reached, gold prices could experience a short-term correction. However, the long-term outlook remains positive as global geopolitical tensions and expectations of low interest rates continue to support interest in the precious metal. Market focus is now on the release of the next US economic data to determine the direction of gold's next movement. (asd)
At the time of this analysis, the gold price was around $4,051.
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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