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Gold Analysis: XAU/USD extends rally as haven appeal returns
Gold, having already staged a near 3% rally at the start of the week, extended its gains into Tuesday as risk sentiment took a knock. A softer US dollar, coupled with falling equity markets, has reinvigorated the yellow metal’s appeal as a haven asset. The Japanese yen was also catching a bid, causing the dollar index to ease lower for the third day. This latest leg higher in gold prices suggests the burst of optimism—fuelled by a handful of US trade concessions—may already be fading. Monday’s break in the S&P 500’s nine-day winning streak, its longest in nearly 20 years, was telling. With several ... (full story)
