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Gold hits over two-week low despite touching record highs in 2024; What's hurting the yellow metal's appeal? Gold prices extended losses for a second day to hit a more than two-week low on Tuesday, April 23, as diminishing fears about an escalation of tensions in the Middle East prompted investors to book profits ahead of key US economic data this week. Spot gold fell 0.3 per cent to $2,318.90 per ounce after earlier hitting its lowest since April 5. Bullion's March to April rally drove it up by nearly $400 to an all-time high of $2,431.29 on April 12, according to news agency Reuters. US gold futures slipped 0.6 per cent to $2,331.80. Elsewhere, spot silver was little changed at $27.17. Auto catalyst metal platinum dipped 0.5 per cent to $912.90, while palladium gained 1.2 per cent to $1,020.75. On the multi commodity futures, gold futures dipped 0.22 per cent at ₹71,042 per gram.

(Reuters) - Gold prices hit a record high on Thursday, and logged their best month in over three years, propelled by U.S. interest rate cut expectations and strong safe-haven demand. Spot gold gained 1.2% to $2,220.85 per ounce as of 1:50 p.m. EDT (1750 GMT), logging its best month since July 2020, at a 9% increase, and a second straight quarterly rise. Bullion hit a record high of $2,225.09 per ounce earlier in the session. U.S. gold futures settled 1.2% higher at $2,238.4. https://lnkd.in/giMa-2QH

Gold Set for Weekly Gain as U.S. Rate Cut Views Strengthen August 16th, 2024 Gold is on track for a strong week, gaining over 1% on growing optimism around a possible U.S. rate cut in September. Spot gold is up 0.6%, reaching $2,471.79 per ounce, while U.S. gold futures increased 0.7% to $2,510.00. This week has seen a 1.7% rise in bullion, with silver, platinum, and palladium also heading for gains. Analysts suggest that while gold prices may continue to rise, surpassing the $2,500 mark will require additional catalysts. Investors are keeping a close eye on the Fed’s minutes from its July policy meeting, expected next Wednesday, and Chair Jerome Powell's upcoming speech. Precious metals markets are watching these developments closely, with both optimism and caution in the air.

Here's why Gold prices may decline; Support seen at Rs 69,400. Read here https://mybs.in/2dY8aiD Sharekhan #goldprice #goldrate

Gold prices surged to an unprecedented peak, solidifying expectations for a rate cut in June by the Federal Reserve. Summary: Gold prices soared to a new record high on Monday, driven by expectations of a U.S. interest rate cut and heightened demand for the precious metal as a safe haven asset. The surge was fueled by softer U.S. inflation data, which reinforced expectations of a rate cut by the Federal Reserve in June. Despite ongoing uncertainties, such as low liquidity due to Easter Monday closures in certain markets, gold’s upward momentum remained strong. https://lnkd.in/d-ZG-wJ8

Gold prices edged higher in Asian trading on Thursday, recovering slightly from recent declines. Despite a drop earlier in the week, gold remained strong due to safe-haven demand, driven by uncertainty around the *U.S. presidential election* and escalating tensions in the *Middle East*. Spot gold rose 0.6% to $2,730/oz. Gold futures for December rose 0.6% to $2,745/oz. Increased safe haven demand supports gold, even as the dollar strengthens on expectations of slower interest rate cuts. Other precious metals also saw gains: Platinum futures rose 1% to $1,040/oz. Silver futures rose 1.5% to $34.35/oz. Copper prices rose by 1.3%, with markets focused on upcoming economic data from the U.S. and eurozone, as traders await cues on potential stimulus from China.

Spot gold XAU= gained 1.2 per cent to $2,220.85 per ounce as of 1:50 pm EDT (1750 GMT), logging its best month since July 2020, at a 9 per cent increase, and a second straight quarterly rise. Bullion hit a record high of $2,225.09 per ounce earlier in the session. US gold futures settled 1.2 per cent higher at $2,238.4. Traders are “position squaring ahead of the holidays and (increasing) trading activity into the month-end and quarter-end,” said Daniel Ghali, commodity strategist at TD Securities, which has boosted gold prices. TD #gold #investments #goldprices

GOLD HIGHER AS MIDDLE EAST TENSION SIMMERS - October 15, 2024 - #Gold and #silver continue to bounce within recent trading ranges of $2,600 to $2,700 for gold and $30.50 and $32.50 for silver. Today both metals caught a modest bid as tension in the #MiddleEast edged higher. Read more with the AGE Daily Gold Update: https://lnkd.in/egB-zqV

Gold prices: analysts project bullish future with $3,000 target. #castlefamilyoffice #gold Gold prices have seen a notable increase, driven by a cooling U.S. labor market which has contributed to a weaker dollar and lower Treasury yields. This environment has enhanced the allure of gold, pushing its prices up in Asian trading on Friday. Spot gold rose by 0.3% while futures climbed by 0.9%, setting the stage for gold to potentially end its recent three-week correction on a positive note. Analysts see bullish future with $3,000 target The long-term outlook for gold remains strongly bullish, with market analysts and technical charts suggesting a possible rise to the $3,000 mark. The formation of an ascending broadening wedge pattern beginning from the 2016 lows of $1045.40, along with an inverted head and shoulders formation noted from 2020 to 2023, underscores a persistent upward trend. These technical patterns, combined with a breakout through the long-term pivot and neckline at $2,075, bolster the bullish sentiment, indicating that minor seasonal corrections may be overlooked as the gold rally continues. Geopolitical tensions underscore gold’s safe-haven appeal The ongoing geopolitical conflicts, particularly in the Middle East, have played a significant role in boosting the demand for gold. As tensions escalate, more investors are turning to gold as a safe haven, supporting its price ascent. The recent breach of the $2,075 level, now considered a strong support in case of any corrections, highlights the metal’s appeal during times of global instability. https://lnkd.in/g5TTsxwd