"Gold remained close to a one-week high on Tuesday, as persistent geopolitical tensions continued to underpin safe-haven demand. The metal's rebound was triggered by the geopolitical developments in Latin America over the weekend. Concerns about potential escalations could support the metal. Elsewhere, geopolitical risks remain firmly in focus. Tensions in Eastern Europe continue, clouding prospects for a near-term ceasefire, while the security situation in the Middle East remains fragile, sustaining gold's appeal."
"On the macro side, bullion also drew support from weaker US data. The latest ISM Manufacturing PMI fell unexpectedly to its lowest level since October 2024, highlighting ongoing risks in the industrial sector and a soft employment component. Investors are now looking ahead to key US labour market releases, particularly Friday's jobs report, with any further signs of weakness likely to reinforce expectations of a more dovish Federal Reserve stance in 2026, which would remain supportive for gold."
Gold remained close to a one-week high as persistent geopolitical tensions underpinned safe-haven demand. The rebound followed geopolitical developments in Latin America, raising concerns about potential escalations. Risks in Eastern Europe and the Middle East continued to support gold by clouding prospects for a near-term ceasefire and keeping the security situation fragile. Bullion also drew support from weaker US data after the ISM Manufacturing PMI fell unexpectedly to its lowest level since October 2024, showing ongoing industrial risks and a soft employment component. Investors are awaiting key US labour market releases, notably Friday's jobs report, with further weakness likely to reinforce expectations of a more dovish Federal Reserve in 2026.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]