Rate cut expectations and geopolitical concerns
Spot gold rose 0.3% to $2,518.47 an ounce, slightly below its previous peak of $2,531.60 an ounce hit last week. US gold futures also rose 0.3% to $2,555.20.
Interest rate expectations and safe-haven demand on Middle East tensions could push gold higher in the short term, with XAU/USD forecast to head towards $2,600 an ounce.
China’s recent halt in gold purchases has weighed on the precious metal. However, Grant said that even if China does not return, central bank demand is still strong and will continue to be strong.
Interest rate expectations and safe-haven demand on Middle East tensions could push gold higher in the short term, with XAU/USD forecast to head towards $2,600 an ounce.
China’s recent halt in gold purchases has weighed on the precious metal. However, Grant said that even if China does not return, central bank demand is still strong and will continue to be strong.
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SELL XAU 2512 - 2515
TP1 : 2506
TP2: 2500
SL: 2522
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