Gold Daily | Gold Prices Stabilize Near $2615 Amid U.S. Treasury Shift and Potential Israel-Hezbollah Ceasefire
Tuesday, Nov 26, 2024 7:00 am ET
1min read 【Latest Gold Price and Recent Trends】
Gold prices have fallen by over 3% recently, stabilizing around $2615 after touching a low of $2605. Key influences include the nomination of Scott Bessent as U.S. Treasury Secretary and the potential ceasefire between Israel and Hezbollah, decreasing gold's appeal as a safe haven.
【Technical Analysis】
Gold prices are under pressure, with the next support at $2600. Resistance levels are at $2640. A break below $2600 could open the path to further declines, while surpassing $2640 might suggest a recovery.
【Market Sentiment and Economic Background】
Investor sentiment is cautious due to Trump's suggested tariffs on imports from Canada, Mexico, and China, which could trigger a trade war. The Federal Reserve's potential policy shifts, including a possible rate cut in December, add complexity to the economic landscape.
【Analyst Opinions】
Analysts are concerned about the impact of geopolitical developments and Trump's policies on gold. While short-term pressures are evident, long-term prospects remain uncertain as market focus shifts to U.S. economic data and Federal Reserve policy decisions. Some analysts see tariffs as a negotiation strategy, offering potential space for a less drastic outcome.
Gold prices have fallen by over 3% recently, stabilizing around $2615 after touching a low of $2605. Key influences include the nomination of Scott Bessent as U.S. Treasury Secretary and the potential ceasefire between Israel and Hezbollah, decreasing gold's appeal as a safe haven.
【Technical Analysis】
Gold prices are under pressure, with the next support at $2600. Resistance levels are at $2640. A break below $2600 could open the path to further declines, while surpassing $2640 might suggest a recovery.
【Market Sentiment and Economic Background】
Investor sentiment is cautious due to Trump's suggested tariffs on imports from Canada, Mexico, and China, which could trigger a trade war. The Federal Reserve's potential policy shifts, including a possible rate cut in December, add complexity to the economic landscape.
【Analyst Opinions】
Analysts are concerned about the impact of geopolitical developments and Trump's policies on gold. While short-term pressures are evident, long-term prospects remain uncertain as market focus shifts to U.S. economic data and Federal Reserve policy decisions. Some analysts see tariffs as a negotiation strategy, offering potential space for a less drastic outcome.
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