No 1 source of global mining news and opinion
Gold jumped to its highest level since the beginning of August on Wednesday as the escalating conflict in the Middle East sent investors flocking towards the safe-haven metal.
Bullion has been on the rise since Hamas’s surprise attack on Israel earlier this month, up more than 5% over that period. Previously, it was trading near a seven-month low, with a steep selloff in Treasuries weighing heavily on the metal. “Elevated risks in the Middle East are prompting safe-haven demand for gold, the technical also has improved. I think gold will push above $2,000 in the near term,” Jim Wyckoff, senior analyst at Kitco Metals,
However, Fawad Razaqzada, market analyst at City Index, warned that with the dollar maintaining its bullish trend and bond yields on the rise again, it is not going to take much to slam gold back down.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Gold Price Forecast: XAU/USD moves upward toward $1,950 on Middle-East conflictGold price continues to gain ground, trading higher around $1,940 per troy ounce during the Asian session on Wednesday. The rising geopolitical tensio
Les mer »
Gold Price Forecast: Middle East conflict is posing a considerable upside riskIn the wake of the developments in the Middle East, the Gold price has recently risen significantly and recovered its losses from the end of September
Les mer »
U.S. allies in the Middle East try to stake out a middle groundThe Palestinian cause was fading in many Arab countries. The Israel-Hamas war has reignited it.
Les mer »
Shares wobble as Middle East strife fuels gains in oil, goldShares wobble as Middle East strife fuels gains in oil, gold
Les mer »
Gold approaches $1,950 as blast at Gaza hospital deepens Middle East tensionsGold price (XAU/USD) extends its upside move as investors’ appeal for precious metals remains upbeat due to the deepening crisis in the Middle East. T
Les mer »
WTI Price Analysis: Approaches 61.8% Fibo retracement around $89.00 amid Middle East tensionsWest Texas Intermediate (WTI), futures on NYMEX, strengthened after the blast at the Gaza hospital in which around 500 civilians were killed provoked
Les mer »