The price of gold has experienced its largest pullback since summer, declining over 1.7% and settling around $2,740 per ounce after nearing record levels.
This drop reflects the resistance gold faces after an extended rally, coinciding with persistent inflationary signals from the recent PCE price index data.
While political developments, such as a potential Trump victory, could heighten inflationary concerns, they could also strengthen the U.S. dollar, limiting gold's potential appreciation.
In the short term, gold may struggle to maintain levels above $2,700 per ounce due to overbought conditions and evolving economic factors.
Collection
[
|
...
]