Gold Daily | Gold Prices Rise 27% YTD Amid Fed Speculation and Geopolitical Tensions

Generado por agente de IAAinvest Market Brief
lunes, 14 de octubre de 2024, 8:00 am ET1 min de lectura
【Latest Gold Price and Recent Trends】

Gold prices slightly rose to around $2665, marking a 27% increase YTD. Despite September's 30% surge, recent performances have been sluggish due to shifting market expectations about Fed rate cuts.

【Technical Analysis】

Gold shows resilience near the $2661.52 pivot, with resistance at $2670.56. Upside potential remains strong if prices stay above $2662. Key support is at $2638.10.

【Market Sentiment and Economic Background】

A stronger dollar limits gold's appeal, influenced by a potential Fed rate cut. Middle East tensions bolster gold's safe-haven status. U.S. economy remains reliant on credit, with alarming federal debt levels affecting consumer behavior.

【Analyst Opinions】

Analysts suggest gold's upward momentum may signal broader economic uncertainties. Speculation on U.S. elections and geopolitical risks continues to influence gold's appeal. Central banks' consistent demand supports long-term bullish outlooks.

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