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Gold, Silver, US Dollar Technical Analysis: Inflation, Geopolitical Risks, and Market Drivers
Gold (XAU) has dropped to seven-week lows below $2,600, finding support from an ascending broadening wedge formation. This pressure on gold is due to the strength of the US Dollar following the presidential election. The recent rise in the Dollar stems from market optimism around Donald Trump’s economic policies. These policies are expected to benefit the Greenback. Trump’s proposed economic policies, including import tariffs, tax cuts, and strict immigration measures, are expected to fuel inflation. This increase in inflation could impact various sectors across the United States. The rising inflation could ... (full story)
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- Posted: Nov 12, 2024 9:23pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 715
