The LDP’s landslide victory in Japan led to a pullback in USDJPY. China has been buying gold for 15 months in a row, supporting the price. Improved global risk appetite undermined the US dollar. The S&P 500 recorded its best daily rally since May amid easing fears about the negative impact of artificial intelligence on […]
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Sell dollar rallies – Bank of America Securities Source link
By Alden Bentley NEW YORK (Reuters) -The dollar fell broadly on Wednesday in thin pre-holiday trade, digesting a slew of indicators that underscored U.S. economic resilience while investors assessed the risk that President-elect Donald Trump will start a tariff war no one will win. The decline further unwound the dollar’s recent rally. Few traders were…
Gold rises 0.98%, reaching $2,720 as geopolitical tensions and US election concerns drive demand for safe-haven assets. Falling US Treasury yields and the weakening US Dollar further boost Bullion prices, with the US Dollar Index dropping to 103.45. Analysts predict continued Gold gains with Citi’s Max Layton forecasting prices could reach $3,000 an ounce within…
Gold Ticks Higher as Traders Await PMI Data! XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX;visibility:hidden”> Source link
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As the XAU/USD chart shows, gold prices today dropped below the 3 March low, reaching levels last seen in the third week of February. Why Is Gold Declining Despite the War? Geopolitical turmoil typically supports demand for gold as a safe-haven asset. However, in the current environment — with the Middle East conflict now lasting…