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Gold prices soar to one-month highs: what’s supporting the rally?
Gold prices are back above the $2,700 per ounce mark on Friday as increased safe-haven demand boosted sentiments. Prices have climbed to a near one-month high on Friday because of uncertainty over US interest rates and trade tariffs by the US President-elect Donald Trump. Gold bulls have been largely ignoring the strength in the dollar index. A stronger dollar makes commodities priced in the greenback more expensive for overseas buyers, thereby limiting demand. At the time of writing, the February gold contract on COMEX was at $2,703.59 per ounce, up 0.5% from the previous close. Silver futures on COMEX were also ... (full story)
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- Posted: Jan 10, 2025 12:01pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 160
