Gold's price action is now intricately linked to the weakening U.S. dollar and declining Treasury yields, creating a complex environment for investors to navigate.
As gold approaches the critical support level of $2,635, the potential for a downward break raises concerns, but easing Treasury yields offer a stabilizing influence.
Geopolitical tensions in the Middle East bolster gold's appeal as a safe haven, yet they may not fully offset the pressures from currency fluctuations and monetary policies.
Despite a projected rate cut by the Federal Reserve, the anticipated gradual easing complicates the outlook for gold, limiting its potential support.
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