Gold Daily | Gold Rises 1% on US Credit Downgrade, Safe-Haven Demand, and Weak Dollar Support
Generado por agente de IAAinvest Market Brief
lunes, 19 de mayo de 2025, 8:01 am ET1 min de lectura
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【Latest Gold Price and Recent Trends】
International gold prices rose over 1% on Monday, benefiting from a weaker dollar and increased safe-haven demand after Moody'sMCO-- downgraded the US government credit rating. Gold reversed the previous day's losses, currently around $3240 per ounce.
【Technical Analysis】
Gold exhibited a strong rebound near the trend line, with buyers pushing the price above key resistance at $3260. Sellers may intervene, expecting a pullback towards the trend line, while buyers aim for a break above $3260 to continue the upward momentum.
【Market Sentiment and Economic Background】
The downgrade of the US credit rating has intensified concerns about the country's financial health, boosting safe-haven demand. The dollar's weakness further supports gold, while geopolitical tensions and trade uncertainties add to the favorable conditions for gold.
【Analyst Opinions】
Carlo Alberto DeDE-- Casa from Swiss Bank emphasizes increased attractiveness of safe-haven assets due to growing concerns about the US economic outlook. Analysts, including those from Goldman SachsAAAU--, anticipate gold reaching $3,700 by year's end, driven by long-term structural factors such as diversification away from dollar-denominated assets.
International gold prices rose over 1% on Monday, benefiting from a weaker dollar and increased safe-haven demand after Moody'sMCO-- downgraded the US government credit rating. Gold reversed the previous day's losses, currently around $3240 per ounce.
【Technical Analysis】
Gold exhibited a strong rebound near the trend line, with buyers pushing the price above key resistance at $3260. Sellers may intervene, expecting a pullback towards the trend line, while buyers aim for a break above $3260 to continue the upward momentum.
【Market Sentiment and Economic Background】
The downgrade of the US credit rating has intensified concerns about the country's financial health, boosting safe-haven demand. The dollar's weakness further supports gold, while geopolitical tensions and trade uncertainties add to the favorable conditions for gold.
【Analyst Opinions】
Carlo Alberto DeDE-- Casa from Swiss Bank emphasizes increased attractiveness of safe-haven assets due to growing concerns about the US economic outlook. Analysts, including those from Goldman SachsAAAU--, anticipate gold reaching $3,700 by year's end, driven by long-term structural factors such as diversification away from dollar-denominated assets.
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