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Gold price jumps to multi-day top amid flight-to-safety sentiment, lacks follow-through
Gold price (XAU/USD) spikes to a four-day top, around the $2,662-2,663 area during the Asian session on Friday as geopolitical risks and trade war fears continue to boost demand for safe-haven assets. Adding to this, bets that the Federal Reserve (Fed) will lower borrowing costs again in December and the recent decline in the US Treasury bond yields offer additional support to the non-yielding yellow metal. Meanwhile, the US Dollar (USD) languishes near a two-week low amid the prospects for more rate cuts by the Fed and turns out to be another factor benefiting the Gold price. That said, the US Personal Consumption ... (full story)
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- Posted: Nov 28, 2024 11:13pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 177
