Gold has stabilized around $2,790/oz amidst uncertainty, reflecting both selling pressure and the enduring role of the metal as a hedge against economic instability.
The anticipated volatility tied to U.S. election results is likely to set the stage for increased hedging activity in gold, reinforcing its position as a reliable store of value.
With a potential Fed rate cut, gold's appeal may strengthen further, as lower real yields enhance its attractiveness for investors seeking non-yielding assets during inflationary pressures.
Technical resilience of gold suggests that recent price pullbacks are temporary; renewed buyer interest likely to stabilize declines as markets react to upcoming geopolitical shifts.
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