Gold: Range trade persists on rates focus – ING
ING’s commodities team reports that Gold rebounded nearly 2%, briefly topping $4,500/oz, as a tentative Israel-Lebanon ceasefire reduced immediate geopolitical risk, before easing when Hezbollah rejected the deal. They emphasize that Gold remains below prior peaks and has been confined to a narrow range, with near-term direction likely driven by US rates, the Dollar and inflation dynamics.
Geopolitics and rates steer prices
"Gold rose nearly 2% in yesterday’s session, briefly pushing above $4,500/oz, as a tentative ceasefire between Israel and Lebanon reduced immediate geopolitical risk."
"Yet prices have come under pressure once again as Hezbollah rejects the ceasefire."
"Despite the recent rebound, gold remains well below its earlier peak and has been trading in a relatively narrow range in recent weeks."
"In the near term, gold will likely remain range-bound, with direction driven by US rates, the dollar, and inflation."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Biotech Insider Trading in US Stocks Diverges: ImmunityBio (IBRX.US) Cashes Out the Most, Sellas (SLS.US) Director Bought In Before a 5x Surge
Insider trading in US-listed biotech companies shows divergence.
AI investment and consumer spending drive growth! UK Q3 GDP growth rate hits highest in two and a half years
As the widespread adoption of artificial intelligence (AI) continues to drive growth in corporate and consumer spending, and the economy demonstrates resilience in the face of an energy shock caused by the Iran war, the UK economy has achieved its fastest growth rate in two and a half years.
MSCI drops Strategy, Bitcoin eyes $70,000 as ETF outflows hit $300 million
AI servers + iPhone Duo dual engines drive, Foxconn Q3 net profit surges 34%, exceeding expectations
The financial report shows that Hon Hai's net profit for the third quarter reached TWD 77.5 billion, exceeding expectations, while revenue hit a record high of TWD 3.03 trillion. AI servers have become the primary growth engine, with the goal of capturing 50% of the global market share within two years and raising the gross margin to 10%. iPhone Duo sales are expected to reach up to 16 million units. Hon Hai Chairman Liu Yangwei stated that the shortage of memory chips and components will continue until 2027, and the performance forecasts for the company's four major product categories have been raised.
Crypto prices
More
