GOLD: Prices Climb as Geopolitical Risks Prompt Buyer Interest

5 days ago

Gold prices are attracting buyers as they trade around $2,586.50 in early Monday trading. However, traders are scaling back their expectations for a Federal Reserve rate cut in December, which is putting downward pressure on the yellow metal.

Despite this, geopolitical uncertainties could drive the price of gold higher, as it is often viewed as a safe-haven asset during tumultuous times. After a six-day losing streak, gold showed signs of recovery during the early Asian trading hours on Monday.

Nevertheless, the strength of the U.S. Dollar (USD) may limit the upward potential for gold. The recent surge in the Greenback, spurred by Donald Trump's election victory, could create additional selling pressure on gold priced in USD. Enhanced expectations for inflation in the coming year, driven by Trump's policies, have led to a diminished outlook for future rate cuts.

As we continue to analyze the Dollar Index (DXY), there may be signs of a retracement in the USD, which could positively impact gold's value. Investors will be keenly watching these developments as they unfold.

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4 days ago

Trade active

Looks Good

2 days ago

Trade closed: target reached

13 hours ago

Note

Closed 50% and Moved SL to entry..